· The
ADP National Employment Report, from the payroll processor, reported
that private nonfarm payrolls rose 10,000 this month after a slightly
revised increase of 3,000 during March.
·The U.S. Bureau of Labor Statistics employment figure for April will be published this Friday. Last month the 3,000 worker rise in ADP's measure of private nonfarm payrolls was accompanied by a 98,000 worker decline in private sector payrolls as reported by BLS.
· 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.
· The ADP sub-index for large payrolls fell 18,000 (-0.9% y/y) after a 53,000 worker decline during March.
· A 42,000 worker increase (1.3% y/y) in small sized payrolls during April followed the 53,000 March rise.
·
Medium sized payrolls fell 14,000 (+0.8% y/y) and that followed a 3,000
worker March increase.
· Employment in the goods producing industries fell 54,000 (-2.0% y/y) and the rate of decline has intensified as this year has progressed. Services payrolls rose 64,000 (1.4% y/y).
· 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.