ADP’s employment report showed a 32,000 increase in private sector jobs during April, which was above the 30,000 consensus had been expecting according to Finviz. Also note that March’s decline of 23,000 jobs was revised to an increase of 19,000 jobs.
Nonfarm private employment increased 32,000 from March to April 2010 on a seasonally adjusted basis, according to the ADP National Employment Report. The estimated change in employment from February to March 2010 was revised up, from a decline of 23,000 to an increase of 19,000.
In addition, the revised estimate of the monthly change in employment from January to February 2010 shows a modest increase of 3,000. Thus, employment has increased for three straight months, albeit only modestly. The slow pace of improvement from February through April is consistent with the pause in the decline of initial unemployment claims that occurred during the winter months.
Unlike the estimate of total establishment employment to be released on Friday by the Bureau of labour Statistics (BLS), today’s ADP Report does not include any federal hiring in April for the 2010 Census. For this reason it is reasonable to expect that Friday’s figure for nonfarm total employment reported by the BLS will be stronger than today’s estimate for nonfarm private employment in the ADP Report.
Business Insider Emails & Alerts
Site highlights each day to your inbox.