ADP & TrimTabs Showing Much Weaker Payrolls Ahead of Unemployment Report
ADP & TrimTabs Showing Much Weaker Payrolls Ahead of Unemployment Report Posted: May 2, 2012 at 8:25 am
The market better get ready for a low reading on the jobs front this Friday when it comes to payrolls. There are two very weak readings which are going to sour the expectation, one from ADP and one from Trim Tabs.
Friday’s expectation for nonfarm payrolls is expected to be 165,000 or so per the consensus target for April from Bloomberg’s survey of economists. That is against only 120,000 in March. It is now
looking like the number will not only be shy of expectations. The reading from the Labor Department could now even show a sequential decline.
ADP showed this morning that only 119,000 payrolls were added in April. Dow Jones had a target of 175,000 and Bloomberg was even higher at 183,000 for consensus targets. .................(more)