Free Trial

JPM economist Daniel Silver noted.....>

US DATA REACT
US DATA REACT: JPM economist Daniel Silver noted today's ADP private payrolls
employment report "increased 235,000 in October. This is a solid month for job
growth but still significantly below our forecast for Friday's BLS data (total
nonfarm: 325,000, private: 320,000) as well as consensus expectations (total:
310,000, private: 301,000)."
- But he is "not concerned by the gap between the ADP data and our forecast" as
thought "weather was more of a drag on the September BLS data than the September
ADP data," so "related bounceback will be stronger in the October BLS report.
Comparing the September data, the ADP report showed that private payrolls
increased 110,000 (revised from 135,000) while the BLS reported that private
payrolls declined 40,000. If we average the September and October data to smooth
through some of the weather-related distortions, the trend in the ADP data looks
solid and only modestly above what we expect the BLS data to show."

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.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });