Private sector adds 190K jobs in August
The ADP payroll report shows private sector employment rising by 190000 in August, up from 177000 in July and short of economists’ 210000 forecast. Construction added 17000 jobs, manufacturing gained 7000, while energy continued to shed workers amid ongoing market turmoil and Fed rate considerations.
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Holiday Labor Day travel expected to rise 2 percent
Analysts forecast a Labor Day weekend boost with 13.5 billion dollars in spending and 35.5 million travelers. The average spend per traveler is 380 dollars, as gas prices drop to 2.45 dollars per gallon nationwide. Energy Department data show California likely has the lowest average since 2010. The U S Travel Association warns underinvestment in roads and airports could keep 4.1 million people home, costing 1.4 billion in spending.
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Lego sees strong demand lifts 2015 first half earnings
Lego reports 30 percent rise in net profit to 543 million dollars and sales of 2.12 billion dollars for the first six months of 2015. The Danish company expanded global production and investments, with Asia strongest in growth, and projects solid full year earnings.
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