Free Trial

ADP Sees Growing Discrepancy Between Small and Large Businesses

US DATA
  • ADP employment increased a stronger than expected 242k (cons 200k) with only minor revisions to last month’s surprisingly soft 119k (prior 106k) which had proved a large head fake with private payrolls instead surging by 443k.
  • It doesn’t move the dial ahead of Friday’s payrolls report with consensus of 215k for private payrolls.
  • Within the details, smallest business continue to struggle, with employment falling for the seventh consecutive month (although the -56k is the smallest decline since Sep), whilst large companies of 500+ employees see outsized gains for technically the strongest in a year at +160k.

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.