Private sector employment grew by 189,000 jobs from February to March, according to the most recent March ADP National Employment Report.
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Source: ADP
As analysts with Econoday explain, “ADP doesn't always track well with the government's data but Wednesday’s data, which are unusually soft relative to expectations, will nevertheless weigh on expectations for Friday's employment report.”
The U.S. Bureau of Labor Statistics will release the employment situation on Friday and doesn’t share the same optimism that ADP’s usually does.
“ADP's data are very soft, at 189,000 in March versus the Econoday consensus of 230,000 and versus a consensus of 240,000 for private payroll growth in Friday's employment report,” analysts with Econoday said.
This is the largest miss in 4 years and the lowest level in 14 months.
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Source: ADP
