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Private-Sector Employment Falls by 491,000 in April

Private-sector employment in the United States fell by 491,000 jobs in April, the smallest decline in six months, according to the ADP employment index released Wednesday.

The relative improvement was widespread across industries, said Joel Prakken, chairman of Macroeconomic Advisers, the consulting firm that computes the index for payroll giant Automatic Data Processing Inc. from hundreds of thousands of anonymous payroll reports.

Source: Market Watch

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NAM Praises New Consumer Safety Appointments

President Obama will nominate Inez Moore Tenenbaum, South Carolina’s former school superintendent, to head the Consumer Product Safety Commission, the White House announced on Tuesday.

Mr. Obama also is asking that the troubled agency, which has been criticized as being too close to corporate America, receive $107 million — a 71 percent increase since fiscal 2007, the statement said.

Source: New York Times

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Global Manufacturing Contraction Stabilizes in April

The global manufacturing recession continued in April, with rates of contraction for output, new orders and employment all showing what are effectively sharp contractions by historical standards. The rates of contraction however moderated almost universally, and this is now the fourth month where this moderation has been evident.

Source: Seeking Alpha

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10 Straight Quarters of Tightening Credit for Small Business

Banks are still tightening credit standards for small businesses, but not to the degree they did at the end of last year. That’s according to the Fed’s quarterly survey of senior bank loan officers is just out. More than 40% of banks surveyed said they had raised credit standards for commercial and industrial loans to small firms (under $50M in revenue) in the last three months, but that’s down from 69% in the last survey released in January.

Source: Business Week

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