Big Miss On ADP Employment Suggests Labor Market Weakness Accelerating


Amid a second wave of lockdowns, weak ISM employment data, and a disappointing rebound in initial jobless claims, analysts expected ADP employment data to hold steady with a gain of 440k in November (after disappointing expectations in October). However, ADP printed a hugely disappointing 307k addition (the weakest addition since July)…

Source: Bloomberg

“While November saw employment gains, the pace continues to slow,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Job growth remained positive across all industries and sizes.”

Small and Medium-sized business added the most jobs…

For now, signals are that the US labor market is fading fast…

Will this mean bad news on Friday? And will bad news be good news for the market?



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