The ADP National Employment Report is published monthly by the ADP Research Institute. The report provides an estimate of US non-farm employment based in the private sector. Since the report began to be published in 2006, its total private sector non-farm employment figures have exhibited a high correlation with the Bureau of Labor Statistics (BLS) non-farm payroll figures.
The latest July figures indicate private sector employment grew by 155,600, just above the expected figure of 150,000 and an improvement on June’s revised increase of 111,900.
ANZ senior economist Felicity Emmett described the result as “reasonably strong”, indicative of “ongoing momentum in the labour market…” Westpac’s Finance AM team said the report cemented “expectations for a decent payrolls report later this week.”