Economy
ADP Foreshadows Strong Payrolls Gain From Labor Department
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ADP private sector payrolls data was one of the key metrics we were looking for ahead of Friday’s key unemployment and payrolls reports. It is a large gain, but perhaps not quite as robust as many market participants were hoping for.
Source: Thinkstock
The ADP Payrolls report grew by some 191,000 in the month of March. February’s gain was only 139,000. ADP was quoted:
The 191,000 U.S. private sector jobs added in March is slightly above the twelve-month average. Hopefully, this could be a sign there is more growth to come.
Bloomberg was calling for 193,000, against a range of 150,000 to 220,000. Dow Jones had the number pegged at 200,000 expected. ADP’s breakdown was as follows:
- Small businesses (1 to 49 employees) +72,000
- Medium businesses (50 to 499 employees) +52,000
- Large businesses (500 or more employees) +67,000
Wednesday’s report is the first of six components we are evaluating in our full unemployment and payrolls preview for this week. Below are three charts provided by ADP.
Source: ADPEmploymentReport.com
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