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BAD:This was a big miss.
Headline ADP jobs created was 119K.
That’s well below 170K that analysts had expected.
Last month was revised down from 209K to 201K.
Current consensus is for around 160K for this Friday’s jobs report.
Those estimates might come down.
Futures are falling after the news.
Here’s a look at the breakdown of data by business type and firm-size
More to come…
ORIGINAL POST: Jobs week officially begins!
Today we get the ADP jobs report, a report that just covers private payrolls conducted by the data/payment processing company ADP.
It’s not always a perfect predictor of the Non-Farm Payrolls report, but over time it’s definitely directionally in line.
Analysts expect to see 170K payrolls, down from 209K last month.
We’ll have the number here LIVE at 8:15 AM ET.