ADP REPORT - US
ADP Non-Farm Employment Change (US)
Employment Cooled Off in October
Starts Wednesday, December 2, 2020 at 13:15
Updated Wednesday, December 2, 2020
The ADP non-farm employment change has been in a range between 220k and 240k on a monthly basis during 2019. Although, we have seen employment change fall below the normal range, coming at 160k-170k in April, June, August and then again in November, as last month's report showed. The employment change was expected to cool off to 195k in November, down from 225k in October, but it fell to 179k. In May, we saw a major decline in employment to just 27k which increased fears of economic stagnation in the US, but it has increased consistently in the following months and it was expected to come in at 150k for August. However, it was stronger at 195k, while in September ADP employment came at 135k. That was revised lower as well, to 93k, so all revisions of the last three months have been down. October came at 125k, but job growth slowed to 67k in November. Although, employment made some decent gains in the following two months, increasing by 202k in December and by 291k in January, which was revised lower to 209k last month, but February posted another decent increase of 183k, beating expectations. In March though it declined by 27k, although the decline in non-farm employment increased to -20,537K in April, but in May employment increased by 2,509K and by 2,369K in June. It slowed to just 167K in July and missed expectations again in August, but jumped to 749K in September. In October employment cooled off again to 365K. Please follow us for coverage of this event live by experienced market analysts.
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About ADP Non-Farm Employment Change (US)
Developed by the ADP Research Institute, the ADP Non-Farm Employment Report provides a picture of the private sector jobs situation in the United States. Released on a monthly basis, it is an estimate of the change in number of people employed in the U.S. The agricultural industry and government are excluded from the calculation.The timing of the ADP Non-Farm Employment Report is typically several business days before the U.S. Department of Labor and Statistics releases its Non-Farm Payrolls brief. The ADP is a market mover for the USD due to the fact that employment levels are a key driver of aggregate economic growth.A lower than expected number is commonly interpreted as bearish for the USD, while a high number is bullish.