ADP Signals All’s Well on Jobs
ADP is releasing February jobs creation showing that private sector added 216,000 jobs. Dow Jones was calling for 215,000 and Reuters was calling for 216,000. This is a good figure and it should tame some of the market fears, but…
The data really is meant to act as a front-running tool for Friday’s non-Farm payroll changes. The Labor Department will release that data on Friday and the current estimate from Bloomberg is for a 204,000 consensus on the non-farm payrolls.
Unemployment is expected to remain flat at 8.3%.
Another issue which may have some influence is the Weekly Jobless Claims and those are expected to be flat at 351,000 per Bloomberg data.
JON C. OGG
Contact [email protected] for any questions or corrections.
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.
