Wednesday, December 02, 2020

ADP: Private Employment increased 307,000 in November

by Calculated Risk on 12/02/2020 08:19:00 AM

From ADP:

Private sector employment increased by 307,000 jobs from October to November according to the Novembe ADP National Employment Report®. ... The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.

“While November saw employment gains, the pace continues to slow,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Job growth remained positive across all industries and sizes.”
emphasis added
This was below the consensus forecast for 420 thousand private sector jobs added in the ADP report.

The BLS report will be released Friday, and the consensus is for 500 thousand non-farm payroll jobs added in November. Of course the ADP report has not been very useful in predicting the BLS report.