Free Trial

ADP private payrolls easily beat............>

US DATA
US DATA: ADP private payrolls easily beat expectations, coming in at -2.76mln,
versus -9.0mln expected (and -19.6mln prior, which is an upward revision from
-20.2mln).
- ADP has a mixed record predicting Nonfarm Payrolls but a swing this large vs
expectations will probably impact the survey for Friday's NFPs (currently
-8mln).
- All sectors -ve but 2: Administrative/support services (+40k) and Education
(+166k). Manufacturing and Trade/Trans/Utilities jobs saw the biggest losses.
- A reduction in job losses across businesses of all sizes: In Apr, small
businesses saw 6mln losses, Midsized 5.3mln, Large 9.0mln; this time: Small
-435k, Mid: -722k, Large: 1.6mln.
- Of course, possibly some anomalies in this data: for example ADP counts all
employees who are active on companies' payroll systems (even if not working),
BLS counts employees who are actually paid. 

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.