US DATA: Weekly ADP Starts New Reporting Window On Similar Footing To ‘May’
Jun-09 12:26
- Weekly ADP private employment increased an average 29.0k per week in the four weeks to May 23, slightly moderating from 30.5k in the prior week (a new value for the weekly series but one that chimed with the monthly series released instead that week) and an unrevised 35.75k the week before that.
- It leaves a latest monthly equivalent to 116k for a similar pace to the monthly ADP report for May with its 122k increase in private employment.
- As such it consolidates an improvement from the 105k in April, 61k in March and 66k in Feb even if it’s below various weekly series at an equivalent ~160k between end-March to early May.
- The BLS private payrolls has been stronger over the past three months although it’s also been much noisier since last year’s government shutdown (rising 120k in May, 177k in Apr and 202k in Mar but after a heavy decline of -148k in Feb).
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