ADP JOBS REPORT NAILS THE ESTIMATE AT 216K

Unions American Workers

Photo: Mark WIlson / Getty

UPDATE:

Right in line…

216K is 1K ahead of estimates of 215K.

This is probably a minor disappointment since more and more people were expecting a major boom, and had raised their estimates towards the high 200Ks.

Basically a total snooze.

Here’s a look at the jobs report broken down by the type and size of business.

Note the strong gains in small business.

chart

ORIGINAL POST:

Here it is!

The ADP jobs report is the first big preview ahead of this Friday’s Non-Farm Payrolls report.

This measure — which is conducted by the payroll company ADP — only covers the private sector. So trends in public sector hiring (or layoffs, more realistically) don’t get captured.

Analysts are looking for a print of 215K, up from 170K last month. But the estimates are varied. Nomura, for example, is calling for a 260K print. Nomura also argues that February is the month when ADP has the most predictive powers.

Anyway, we’ll have the number here LIVE when it comes out at 8:15 AM ET.

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