June Payrolls Preview: Hot But Not Too Hot
Some more details from Newsquawk ADP PAYROLLS: Ahead of Friday’s jobs report, the ADP’s gauge of payrolls showed 692k jobs being added to the US economy in June, above the forecasted 600k, but below May’s figure which was revised lower to 886k from 978k. Pantheon Macroeconomics hoped for a greater increase, based on the Homebase employment data, suggesting the signal for Friday’s NFP release is unclear. Pantheon highlights the ADP’s measure was short of the official payroll data for most of the pandemic, but it suddenly overshot in April and May, adding that the change was likely du...
Source: zerohedge.com