U.S. ADP employment report hints improvement in job growth
The ADP employment report reveals the private payroll in the U.S. increased to 217k in November. The data shows a positive sign in labor market as it was 196k in previous month. Goods-producing employment posted a robust…
The ADP employment report reveals the private payroll in the U.S. increased to 217k in November. The data shows a positive sign in labor market as it was 196k in previous month.
Goods-producing employment posted a robust growth in October and reached 22k dropped down to 13k in November. In contrast, construction payrolls increased to 16k against 32k last month and manufacturing employment turned up from a negative figure of -2k in last month to 6k.
"We place limited weight on the ADP employment report given the history of revisions and frequent divergence with the Labor Department's initial estimates. That said, this morning's print is consistent with our outlook for nonfarm payroll growth of 200k and a one-tenth decline in the unemployment rate in Friday's official employment report", states Barclays.
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