ADP jobs figures underwhelm; small businesses miss out

04 May 2022

 

Summary: ADP payrolls up 247,000 in April; less than consensus expectations; March rise revised up by 24,000; positions up in medium, large businesses, down in small ones; little over 80% of gains in services sector, again led by leisure/hospitality sector; NAB: should not change expectations for upcoming non-farm payrolls report. The ADP National Employment Report is a monthly report which provides an estimate of US non-farm employment in the private...

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