Economy
ADP and TrimTabs Set Positive Bias for Payrolls and Unemployment on Friday
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This Friday’s unemployment and nonfarm payrolls report has the foundation for another strong jobs number. Two preliminary readings are giving a boost to the hopes here: ADP and TrimTabs.
ADP Payrolls indicated that the private sector added 220,000 jobs during the month of April. Dow Jones and Bloomberg were each calling for 210,000.
TrimTabs Investment Research, which is usually more cautious or conservative in its counting, said that the U.S. added some 242,000 jobs in the month of April, the highest reading since March of 2011. TrimTabs’ employment estimates are based on analysis of daily income tax deposits to the Treasury from the paychecks of the 136 million U.S. workers subject to withholding, and they are represented as being historically more accurate than the initial estimates from the Bureau of Labor Statistics.
Again, these reports are merely adding a stronger base to expectations this Friday. Bloomberg expecting the nonfarm payrolls to be up by 215,000 (versus 192,000 in March) and private sector payrolls to be up by 213,000 (versus 192,000 in March). The unemployment rate is expected to come down by 0.1% to 6.6%.
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