Items include
ADP
Economic Indicators
Aug 30, 2023
Bottom Line: ADP reported lower-than-expected hiring in August, but there were positive revisions to prior data, which had already surprised expectations four months running. This report has had a waning correlation with nonfarm payrolls in the national employment report (due...
Aug 2, 2023
Bottom Line: ADP reported sharply better-than-expected hiring again in July (the fourth consecutive upside surprise). While slower than the June gains of 455k, July's 324k increase brought the three-month average to nearly 350k, notably faster than the pace of the...
Jul 6, 2023
Bottom Line: ADP reported sharply better-than-expected hiring again in June (the third consecutive beat). Hiring was most robust in the leisure and hospitality segment but only modestly higher than the averages of the last few months. The big surprises came...
Jun 1, 2023
Bottom Line: ADP reported better-than-expected hiring again in May, with payrolls rising 278k, well above the consensus estimates looking for 170k. While the magnitude of the gains was remarkably strong and suggests labor markets remain tight, the details offered a...
May 3, 2023
Bottom Line: ADP reported better-than-expected hiring in April, with payrolls rising 296k, well above the consensus estimates looking for 148k. Hiring in leisure and hospitality led the gains, with the sector adding the most jobs since last May. Education and...
Apr 5, 2023
Bottom Line: ADP reported less-than-expected hiring in March, with payrolls rising 145k, well below the consensus estimates looking for 210k. Payrolls declined notably in professional and business services (often jobs in legal and consulting firms), financial activities (accountants, investments, etc),...
Mar 8, 2023
Bottom Line: ADP reported a rebound in the pace of hiring in February, with payrolls rising 242k, well above the consensus estimates looking for 200k. Moreover, the January data, which had missed expectations to the downside, were revised modestly higher....