In March, more businesses put up “help wanted” signs in their windows. According to today’s Automatic Data Processing (ADP) report, the private sector added approximately 200,000 jobs this past month. That’s good news for a number of reasons.
First off, the ADP report is a precursor to Friday’s official Unemployment Rate report from the U.S. Bureau of Labor Statistics. Usually, we can count on the Unemployment Rate report to reflect similar growth data as today’s ADP Jobs Report. The reason for this is simple. You might be familiar with the ADP acronym from your own paystubs. ADP processes the vast majority of payroll data in the United States. That means most new jobs added each month go through this company’s system. That gives ADP great insight into the actual numbers the Bureau of Labor Statistics will pull from U.S. companies’ official hiring records.
Given today’s positive trend, that’s good news for the U.S. economy and for American investors.
What we’re actually seeing in the ADP Report today is further proof that American economy hasn’t been caught up in the global slowdown or the stock market’s recent uncertainty. Most American employers appear undeterred by the broader market’s fears. That bodes well for U.S. consumer spending, which of course bodes well for American companies in general. The more people are working in the United States, the greater the U.S. wage pool. That means more discretionary income for U.S. consumers, which will add up to greater overall economic expansion in the U.S. as a whole.
I’m certainly looking forward to seeing the eventual effect another month of solid job growth will have on U.S. companies’ profits. And as investors we can capitalize on these positive hiring trends here in the United States.
Today, I want to direct you towards five great companies that are themselves looking to add significantly to their workforces in the coming weeks and months. These five companies are:
- UPS (UPS), looking to add a massive 9,978 jobs to their payroll, and it’s maintaining an A-rating in my Portfolio Grader tool.
- UnitedHealth Group (UNH). This B-rated company is looking to add an incredible 5,715 jobs to its payroll.
- A-rated giant AT&T (T) is looking to add a massive 2,461 jobs in the coming months.
- T-Mobile (TMUS) maintains a solid B-rating and is looking to add a cool 986 jobs.
- And finally A-rated Northrup Grumman (NOC) wants to add 914 jobs to their payroll in the coming months.
I certainly hope when you see the official numbers in Friday’s U.S. Labor Report, you’ll remember this sneak peek we got today from ADP and consider taking a closer look at these five profitable companies significantly adding to their own payrolls today.