ADP Jobs Data Supports Higher Non-Farm Payroll Gains Outlook
ADP is out with its pre-unemployment data for the month of January. The effort aims to front-run the Labor Department’s non-Farm Payrolls projections. The new report from ADP is predicting that U.S. private sector firms added 170,000 jobs in the…
ADP noted that small businesses were 95,000 of the 170K; Medium businesses were 72K; Large business was only 3K… The goods producing sector was 18K; the services sector was another 152K. This may help to maintain a positive tone for non-Farm payrolls due Friday. Bloomberg has a consensus of 135,000 for that figure due at 8:30 AM EST on Friday morning.
It does need to be noted that the December huge number report was revised down a bit. It was still way above what was the government figure at the time, but lower nontheless. The December figure was revised lower to 292,000 from a prior much more aggressive 325,000 reported.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
