ADP estimate of U.S. private jobs growth
ADP Jobs Estimate Eclipses Influence of U.S. and Euroland GDP Data Also Released Today
October 30, 2024
Estimated private sector employment growth in October from Automatic Data Processing, Inc soared to 233 thousand new jobs. That 15-month high is twice what analysts were expecting and follows 159k in September, which was revised from an original estimate of 143k. If the labor market release due this Friday corroborates this sharp pickup in labor market […] More
Strong Yen Sales
October 2, 2024
Japan’s ultra-loose monetary policy when other central banks scrambled to tame a sharp rise inflationary pressure in 2021-3 had encouraged investors to borrow essentially free money offered in Japan and invest in higher yielding assets elsewhere. Those so-called carry trades are now being reversed and consequently driving down the yen, which slumped 0.9% against the […] More
A Negative U.S. Jobs Surprise and Global Covid Cases Climbs Above 200 million Threshold
August 4, 2021
Wednesday brought two pieces of discouraging news. ADP’s 330k monthly estimate of private U.S. employment growth in July was only about half as much as forecasters were anticipating, down from a 2Q average of 729k per month, and the lowest increase since February. Fed officials have made clear that labor market trends will exert very […] More
