· The
ADP National Employment Report, reported by the payroll processor,
indicated that private nonfarm payroll growth improved further to
189,000 during November after a revised 119,000 rise in October.
· The U.S. Bureau of Labor Statistics employment figure for November will be published this Friday.
· Last month, ADP's measure of private nonfarm payrolls for October indicated the upwardly revised 119,000 increase in jobs that was followed by a 73,000 gain in private nonfarm payrolls.
· The sub-index for large payrolls made for a piece of the declines during the prior five months with a 30,000 increase
· The sub-index for small payrolls outpaced a firm October rise with a 77,000 increase.
· According to ADP and Macro Advisers, the correlation between the monthly percentage change in the ADP estimate and that in the BLS data is 0.90.
· ADP compiled the estimate from its database of individual companies' payroll information. Macroeconomic Advisers, LLC, the St. Louis economic consulting firm, developed the methodology for transforming the raw data into an economic indicator.
· The ADP
National Employment Report data is maintained in Haver's USECON
database; historical data go back to December 2000. The figures in this
report cover only private sector jobs and exclude employment in the
public sector, which rose an average 11,083 during the last twelve
months.
· The full ADP National Employment Report can be found here,
and the ADP methodology is explained here.