Largest companies adding jobs, employees

By Matt Krantz, USA TODAY

Updated

The "hiring" sign is popping up in front of many of the nation's biggest companies as they put some of their record piles of cash to work.

• 

  By Eric Lalmand, AFP/Getty Images

  A Caterpillar factory Charleroi, Belgium.

By Eric Lalmand, AFP/Getty Images

A Caterpillar factory Charleroi, Belgium.

Collectively the nation's biggest companies, including Caterpillar, Jabil Circuit and Qualcomm, added 4.2% more net jobs globally in 2011, based on S&P Capital IQ's analysis of the 437 companies in the Standard & Poor's 500 that reported employee statistics. That's an increase of 733,619 jobs, yet it's not disclosed how many are in the U.S.

Small companies are typically the biggest drivers of new jobs, but seeing behemoths boosting headcounts is encouraging. "It's refreshing to see these job gains at these large companies," says Jack Ablin of Harris Private Bank.

Broad economic data confirm companies are creating jobs. The much-anticipated jobs report Friday showed employers of all sizes added 227,000 U.S. jobs in February.

Factors behind the hiring:

?Expansion of production. Some companies are ramping up production at existing facilities or bringing new plants online.

For instance, Caterpillar, the maker of heavy machinery, added more than 20,000 jobs, a 20% increase. Nearly half of those jobs are in the U.S., says spokesman Jim Dugan. Electronics manufacturer Jabil Circuit is also hiring to ramp up its production capacity.

?Mergers and acquisitions. Most of the companies with the biggest percentage gains in headcounts have completed large buyouts and taken on the purchased companies' workers. These aren't new jobs. Both energy company AGL Resources and telecom CenturyLink point to large acquisitions for their 144% and 141% headcount increases. Even so, some companies, including Intel and Qualcomm, are hiring in addition to bringing on workers through acquisitions.

?Global expansion. Yum Brands, owner of fast-food chains including Taco Bell, added 88,000 positions, a 23% increase. Most of that came from hiring in emerging nations.

Critics may point out that job growth remains slow relative to the 15% growth of profit at S&P 500 companies last year. But seeing firms adding jobs shows confidence, Ablin says. "Lots of expectations" are built on job creation, he says.

For more information about reprints & permissions, visit our FAQ's. To report corrections and clarifications, contact Standards Editor Brent Jones. For publication consideration in the newspaper, send comments to letters@usatoday.com. Include name, phone number, city and state for verification. To view our corrections, go to corrections.usatoday.com. USA TODAY is now using Facebook Comments on our stories and blog posts to provide an enhanced user experience. To post a comment, log into Facebook and then "Add" your comment. To report spam or abuse, click the "X" in the upper right corner of the comment box. To find out more, read the FAQ and Conversation Guidelines.?

Source: http://rssfeeds.usatoday.com/~r/UsatodaycomMoney-TopStories/~3/2264idchPCE/1

josh hamilton fab melo preppers prop 8 larry bird maria menounos proposition 8