ADP report “bolsters” consensus view on upcoming US non-farm payrolls

01 December 2021

 

Summary: ADP payrolls up by 534,000 in November, slightly more than consensus expectations; October increase revised down by 1,000; “bolsters” consensus expectations of upcoming US non-farm report; positions up across firms of all sizes, bias again towards large firms; 80% of gain in services sector, led again by leisure/hospitality sector. 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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