February 2021 ADP Employment Grew 117,000 econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
January 2020 ADP Employment Grew 174,000
ADP reported non-farm private jobs growth of 174,000 which was above expectations. A quote from the ADP authors:
Although job losses were previously concentrated among small and midsized businesses, we are now seeing signs of the prolonged impact of the pandemic on large companies as well.
Analyst Opinion of ADP Employment Situation
Last month s employment loss was revised upward. It will be interesting to see what the BLS says is jobs growth.
ADP employment has not been a good predictor of BLS non-farm private job growth.
The market expected from Econoday -85,000 to 285,000) - consensus 50,000. These numbers are all seasonally adjusted.
December 2020 ADP Employment Contracted
ADP reported non-farm private jobs DECLINE of 123,000 which was massively below expectations. A quote from the ADP authors:
The job losses were primarilly concentrated in retail and leisure and hospitality.
Analyst Opinion of ADP Employment Situation
Last month s employment gain was revised marginally downward. It will be interesting to see what the BLS says is jobs growth.
ADP employment has not been a good predictor of BLS non-farm private job growth.
The market expected from Econoday 125,000 to 255,000) - consensus 165,000. These numbers are all seasonally adjusted.
In
Econintersect s December 2020 economic forecast released in late November 2020, we estimated non-farm private payroll growth at 200,000 (based on economic potential) and 500.000 (fudged based on current overrun / under-run of economic potential). [because the decline was so steep and the recovery so steep, our forecast methodology is not accurate in this period]