Upcoming NFP report bolstered by ADP numbers

30 September 2020

 

Summary: ADP payroll numbers jump in September; almost double consensus figure; August numbers revised up; strength of increase bolsters expectations of “reasonable” growth in upcoming non-farm payrolls (NFP) report; figures up across firms of all sizes; services sector accounts for 75% of gains; increase consistent with non-farm payroll expectations.   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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