Job creation is on the upswing, according to a new poll released Wednesday by Gallup. The Gallup U.S. Job Creation Index edged up in February to +21 compared to January 2014 and December 2013 when it was at +19. The February index is above the +20 average for last year. It is also the best February for job creation since the recession began around 2008.
Guerilla Stock Trading explained the numbers: "The Job Creation Index is a measure of net hiring in the U.S. February's 21 score means that approximately 36 percent of Americans say their employer is hiring, while 15 percent say their employer is letting workers go. The other 43 percent of workers report no change in hiring by their employer."
Ruth Mantell at MarketWatch, on the other hand, looked at employment stats released Wednesday by Automatic Data Processing Inc.: "Private-sector employers added 139,000 jobs last month, up from a revised 127,000 in January, but down from 205,000 in February 2013, according to ADP."
Gallup's analysis found that private sector employees were doing better than government employees in job creation. "Private-sector workers continue to report a better hiring situation than government workers, but the index for both sectors improved last month," Gallup says. "The recently passed federal budget rolls back some previous cuts, which may have contributed to the rise in federal workers who report the government is hiring. Still, the Job Creation Index for federal workers remains negative and is below the index for state and local employees and for non-government workers."
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