The ADP (Automatic Data Processing) National Employment Report is a monthly report that provides an estimate of the number of jobs added or lost in the U.S. private sector, excluding farming and government. The report is based on data from Froom ADP's payroll processing services, which cover approximately 26 million U.S. Workers. The ADP report is often used by economists, investors, and policymakers as an early indicator of trends in the labor market, ahead of the more comprehensive and closely-watched monthly employment report from the U.S. Bureau of Labor Statistics. The ADP report is released on the first Wednesday of each month, and is closely watched by financial markets for signs of strength or weakness in the labor market.
8:18 AM : The ADP Employment Report showed that there was an increase of 177,000 jobs created in the private sector in August, which was fewer than expectations of 195,000.
8:22 AM: Reaction Mortgage Bonds are down 16 basis points and the 10 year Treasury is up 4 basis points to 4.153%.
Next report comes out Wednesday 8/30/2023 The market is expecting the ADP report to show 188,000 jobs created compared to last months 324,000
8:40 AM : The ADP Employment Report showed that there was an increase of 324,000 jobs created in the private sector in July, which was greater than expectations of 189,000.
9:32 AM : Stocks have started the day lower. The Dow is -138.01 at 35,492.67 and the S&P 500 is -36.12 at 4,540.61. Mortgage Bonds are -17bp at 98.69.
Reaction 8:49 AM ET: Mortgage Bonds are down 87 bp to 98.05 (Price Down Yield Up) The 10 year treasury is up 12 BP to 4.045%. Both are significant changes.
8:23 AM: The ADP Employment Report showed that there was an increase of 497,000 jobs created in the private sector in June, which was greater than expectations of 228,000.
ADP:Private employers added 278,000 jobs in May
Job growth is strong while pay growth continues to slow. But gains in private employment were fragmented last month, with leisure and hospitality, natural resources, and construction taking the lead. Manufacturing and finance lost jobs.
This is the second month we've seen a full percentage point decline in pay growth for job changers. Pay growth is slowing substantially, and wage-driven inflation may be less of a concern for the economy despite robust hiring. Nela Richardson Chief Economist ADP
The market is expecting 170,000 jobs created last month.
Reaction 8:51 AM ET Mortgage Bond prices are up 8 BP to a price of 99.94 and the 10 year is down 2 bp to 3.616%
8:25 AM : The ADP Employment Report showed that there was an increase of 296,000 jobs created in the private sector in April, which was greater than expectations of 148,000.
ADP released their employment report, showing that there were 296,000 job creations in the month of April, which was almost twice as strong as the 150,000 expected. Looking at the sectors, Leisure and Hospitality led the gains once again, adding 154,000 jobs. As we mentioned previously, those gains may be coming to an end soon – In April of 2019, there were 16.2M employees in the sector, and with today’s report, there are now 16.25M…meaning we have eclipsed where we were in April pre-covid. There is likely not much more in the way of job gains from the sector that has been adding the most job creations each month. ADP also reported that annual pay for job stayers increased 6.7% year over year, down from 6.9% in the previous report. Job changers saw an average
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