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By Eric Morath Jobless claims fell again to the lowest level since the pandemic took hold more than a year ago, another sign the labor market is rebounding this spring. Initial unemployment claims, a proxy for layoffs, fell by 13,000 last week to a seasonally adjusted 553,000, the Labor Department said on Thursday. The previous week s figure was revised up to 566,000. The latest reading marked the third straight week jobless claims were below 600,000, their lowest levels since early 2020. The four-week moving average, which smooths out volatility in the weekly figures, was 611,750, also a pandemic low. New claims this month are well below the millions of claims filed weekly a year ago, but still more than double the roughly 200,000 weekly applications submitted in the months before the pandemic began.
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ROSELAND (dpa-AFX) - Below are the earnings highlights for Automatic Data Processing Inc. (ADP):-Earnings: $810.7 million in Q3 vs. $820.9 million in the same period last year. -EPS: $1.90 in
Automatic Data Processing Raises FY21 Outlook
ROSELAND (dpa-AFX) - While reporting weak third-quarter profit, Automatic Data Processing Inc. (ADP) raised its forecast for fiscal 2021 to reflect nine months of strong performance and signs of an economic recovery into year-end.
For the year, adjusted earnings per share is now expected to be flat to up 1 percent, compared to previous outlook between 2 percent drop and 2 percent increase from last year s $5.92.
Further, revenue is now expected to rise 2 percent to 3 percent, up from previous outlook of a growth of 1 percent to 3 percent.
Adjusted EBIT margin is now expected to decline 50 basis points to 75 basis points, while previous view was a decline of 50 basis points to 100 basis points.