January Sees Rebound In Jobs, Inflation Kicks Into High Gear

February 3, 2021

0

*W for Waitress, from An Alphabet by William Nicholson (1899)*

Please Follow us on Gab, Parler, Minds, Telegram

ADP Employment beat estimates in a rebound of 174k jobs, vs December's decline. But the real story is the return of inflation in a big way as ISM and Markit reported gains in costs for services, as both metrics showed growth in the services sector.

"Deteriorating vendor performance and supplier prices hikes led to the steepest rise in cost burdens since data collection began in October 2009.," declared Markit's Chief Business Economist Chris Williamson.

MBA Mortgage Applications (Jan 29) printed up 8.1%.

ADP Employment Change (Jan) printed at 174k vs 49k estimate.

Markit Services PMI (Jan) printed at 58.3 vs 57.5 estimate.

Markit PMI Composite (Jan) printed at 58.7 vs 58 estimate.

ISM Services New Orders Index (Jan) printed at 61.8 vs 55.2 estimate.

ISM Services PMI (Jan) printed at 58.7 vs 56.8 estimate.

ISM Services Employment Index (Jan) printed at 55.2 vs 49.7 estimate.

ISM Services Prices Paid (Jan) printed at 64.2 vs 64.4 estimate.

EIA Crude Oil Stocks Change (Jan 29) printed at -0.994M vs 0.446 estimate.

Author

CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."