ADP Employment Report

NOTE: It's important to note that the ADP report is for private sector jobs only, and that the headline BLS number includes government jobs. Over the last year, the BLS has reported an increase of 2.148 million nonfarm jobs, of which 1.866 million were private nonfarm jobs. So about 15% of the overall net jobs added were government jobs, and these are not included in the ADP report.

Click on graph for larger image.

According to ADP:

Private nonfarm employment grew a modest 57,000 from January to February of 2007 on a seasonally adjusted basis.

After taking quite a beating, ADP has revised their methodology:

The February 2007 ADP National Employment Report released on Wednesday March 7, 2007 is the first regularly released ADP Report to incorporate key methodological revisions, including: (1) a larger sample of payrolls; (2) improved procedures for seasonal adjustment; (3) better detection of outliers; and (4) additional detail on private nonfarm employment by select industry and by size of payroll.

I've looked at the differences between the ADP and BLS reports before (see More BLS vs. ADP), and I'll update the analysis soon since ADP has changed their methodology.