Private US payrolls report lends weight to upcoming QE taper decision

06 October 2021

 

Summary: ADP payrolls up by 568K in September, more than consensus expectation; August increase revised down by 34K; provides “some early encouragement” withdrawal of pandemic jobless benefits encouraging take-up of jobs”; figures up across firms of all sizes, bias towards large firms; around 80% of gain in services sector, led again by leisure/hospitality sector; tapering trigger for Fed should upcoming non-farm payroll report meet expectations. The ADP National Employment Report...

read full story