ADP Research Institute will release its data on US private payrolls at 8:15 a.m. ET.
Economists estimate that payrolls grew by 190,000 in February, lower than the 205,000 reported last month, according to Bloomberg.
This release comes ahead of the nonfarm payrolls report form the Bureau of Labour Statistics on Friday, which is forecast to show that the US economy added 195,000 jobs last month.
In a client preview, Deutsche Bank’s Joe LaVorgna and team wrote:
The ADP private employment survey is released today and could potentially cause analysts to alter their expectations of Friday’s nonfarm payroll figure. In terms of the latter, we are projecting a 195k headline gain and a 185k increase in private-sector payrolls. While the ADP survey is the best predictor of the upcoming employment data, jobless claims tend to be more forward looking. As long as claims remain comfortably below 300k, the monthly change in payrolls is likely to be reasonably robust, around 200k.
We’ll have the latest once the data cross, so refresh this page for updates.