Jay Soloff

Lots of economics news out in the US today, so let's get right to it. First off, according to ADP, the US economy added 215,000 private sector jobs last month - that's the largest monthly gain this year. While the ADP report can be very different than the government non-farm payrolls report, it's still a good sign to see job growth (and it supports the decline in new jobless claims). In other positive news, monthly new home sales soared by over 25% month to month, and easily beat analysts' expectations. It was also the single biggest monthly gain since 1980! On the other hand, the ISM Services report came in weaker than projected. Economists expected a reading of 55, with the actual reading hitting 53.9. Of the 10 components to the index, only 2 increased from last month (supplier deliveries and export orders).


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