Wednesday, January 06, 2021

ADP: Private Employment decreased 123,000 in December

by Calculated Risk on 1/06/2021 08:20:00 AM

From ADP:

Private sector employment decreased by 123,000 jobs from November to December according to the December 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.

“As the impact of the pandemic on the labor market intensifies, December posted the first decline since April 2020,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The job losses were primarilly concentrated in retail and leisure and hospitality.”
emphasis added
The BLS report will be released Friday, and the consensus is for 100 thousand non-farm payroll jobs added in December. Of course the ADP report has not been very useful in predicting the BLS report.