ADP Employment Softened in February - Forex News by FX Leaders
New jobs were slashed almost in half in February

ADP Employment Softened in February

Posted Wednesday, March 3, 2021 by
Skerdian Meta • 1 min read

Employment has been improving in the US since last June, after the lock-downs ended. But in December, we saw a dip, as ADP employment fell by 123K, which was also reflected in the main employment report. But in January, we saw an improvement, as ADP employment turned positive again, and this was also revised higher today. For February, we expected to see another increase, but it cooled off instead, so we will see whether this reflects on the jobs report on Friday.

 

US February ADP Employment Report

  • February ADP employment +117K vs +200K expected
  • January was 174K (revised to 195K)
  • Goods producing jobs -14K vs +19K prior
  • Services providing jobs +131K vs +156K prior
  • Full report
There’s a big hole for the US to climb out of and that’s what the Fed is entirely focused on.
I posted this chart earlier in the week; it highlights how many jobs the US needs to create to get back to the pre-pandemic trend:
US jobs report ADP

 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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