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ADP Jobs Report Ahead.

Posted by WorldWideMarkets . on Jul 3, 2013 3:38:00 AM
The precursor to June non-farm payrolls on Friday arrives today in the form of the ADP national employment report. ADP consensus for June is 160,000 private jobs. A big miss under or over will prompt some volatility given its proximity to the official U.S. jobs report as investors and analysts adjust expectations for the government number. The consensus for Friday’s report being 165,000 new jobs overall, 175,000 private payrolls and an unemployment rate of 7.5 percent.
But the ADP, despite new methodology in the last year, is still historically inaccurate when it comes to predicting the U.S. jobs report, with a calculated average error of 55,000. So don’t bet too much on ADP unless the big banks start to change their forecasts, seeing something that is not apparent to the rest of us.
ADP report

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