2024 ADP Jobs Created Overstated by Near 550K?Recently, the September ADP Employment Report was published. (You can download historical data from the link above.)
After the report was released, TVC:DXY , TVC:US02Y , TVC:US10Y , and TVC:US30Y rose, suggesting that the market perceived the report as strong. However, the details of the rep
Key data points
Last release
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Observation period
Mar 2025
Next release
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Forecast
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Highest
1.08 M PSN on Jul 31, 2021
Lowest
−6.76 M PSN on Apr 30, 2020
About United States ADP Employment Change
The ADP National Employment Report measures levels of non-farm private employment. The Report is based on the actual payroll data from about 25 million employees and is produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab.
ADP Jobs Report Strong for Continued EmploymentStrong ADP jobs report showing 807K jobs vs 400K expectations.
The main jobs report is on Friday (1/7//22), and I expect us to beat the 400K expectations and report ~570K jobs.
Hopefully Omicron doesn't make the return of employment drag out more.
Rolling 2Y correlation between the two around 7
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