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ADP Report Preview: US private-sector employment set to increase slightly in December
The ADP December Jobs Survey will be released at 8:15 on Thursday morning.
ADP Report Preview: US private-sector employment set to increase slightly in December
NEWS | 01/04/2024 10:30:00 GMT | By FXStreet Team
• The ADP survey is expected to show the US private sector added 115K new positions in December.
• The data is relevant ahead of the Nonfarm Payrolls report to be out on Friday.
• Recent Private Payrolls align with the Federal Reserve’s view of a moderate pace of job creation.
The ADP Research Institute will release the December Jobs Survey on Thursday. The survey is an independent estimate of private-sector employment and pay, usually released two days ahead of the official Nonfarm Payrolls (NFP) report.
The correlation between ADP and NFP numbers is not always the most accurate and its results tend to diverge from the official job creation numbers provided by the Bureau of Labor Statistics. Still, market participants pay attention to the ADP figures as part of the multiple employment-related releases that take place in the days preceding the NFP publication.
Back in November, and according to this survey, the private sector added 103K new positions, reporting “moderate growth in hiring and another slowdown in pay gains.”
The United States (US) Federal Reserve (Fed) has been long considering a strong labor market and wage growth as a major inflationary risk. With that in mind, the November report brought relief to policymakers who opted out of massive monetary easing. The moderated pace of job creation and salaries increases are helping the local economy grow at a modest pace, without building inflation.
{snip}
NEWS | 01/04/2024 10:30:00 GMT | By FXStreet Team
• The ADP survey is expected to show the US private sector added 115K new positions in December.
• The data is relevant ahead of the Nonfarm Payrolls report to be out on Friday.
• Recent Private Payrolls align with the Federal Reserve’s view of a moderate pace of job creation.
The ADP Research Institute will release the December Jobs Survey on Thursday. The survey is an independent estimate of private-sector employment and pay, usually released two days ahead of the official Nonfarm Payrolls (NFP) report.
The correlation between ADP and NFP numbers is not always the most accurate and its results tend to diverge from the official job creation numbers provided by the Bureau of Labor Statistics. Still, market participants pay attention to the ADP figures as part of the multiple employment-related releases that take place in the days preceding the NFP publication.
Back in November, and according to this survey, the private sector added 103K new positions, reporting “moderate growth in hiring and another slowdown in pay gains.”
The United States (US) Federal Reserve (Fed) has been long considering a strong labor market and wage growth as a major inflationary risk. With that in mind, the November report brought relief to policymakers who opted out of massive monetary easing. The moderated pace of job creation and salaries increases are helping the local economy grow at a modest pace, without building inflation.
{snip}