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Economy in Brief
U.S. Retail Sales Post Disappointing Increase
Total retail sales improved 0.1% (4.7% y/y) during September...
U.S. Government Budget Deficit Deepens to the Largest in Six Years
During FY'18, the federal government ran a 779.0 billion budget versus a 665.8 billion deficit in FY'17...
Empire State Manufacturing Index Increases; Prices Decline
The Empire State Manufacturing Index of General Business Conditions rose to 21.1 in October...
U.S. Business Inventory Accumulation Eases
Total business inventories increased 0.5% (4.2% y/y) during August...
Finland’s Inflation Stays Low -- Mostly
Finland is experiencing three distinct forces on the inflation front...
by Tom Moeller January 31, 2007
The ADP Nat'l Employment Report, reported by the payroll processor, indicated that private nonfarm payrolls rose 152,000 during January. The U.S. Bureau of Labor Statistics employment figure will be published this Friday.
Last month, ADP's measure of private nonfarm payrolls for December indicated a 40,000 decline in jobs that was followed by a BLS report that private nonfarm payrolls rose 150,000.
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.
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 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.
| [email protected] | January | December | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Nonfarm Private Payroll Employment (Chg.) | 152,000 | -40,000 | 1.6% | 1.8% | 1.7% | 1.3% |
