ADP’s jobs data is showing an expected jobs decrease of some 532,000 for the month of May. The data for April also showed that the job losses were revised down to 545,000. The cuts were all over with small and medium businesses generating 209,000 and 223,000, respectively, and large businesses at -100,000. The government payrolls expectation for non-farm payrolls due this Friday from the Labor Department is roughly 525,000. This number from ADP will not likely create any radical changes to the unemployment expectations released by the Labor Department this Friday. It seems that tomorrow’s jobless claims data and the continuing claims may show more insight than today’s ADP data.
Jon C. Ogg
June 3, 3009
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