ADP Jobs Data Supports Higher Non-Farm Payroll Gains Outlook

ADP is out with its pre-unemployment data for the month of January.  The effort aims to front-run the Labor Department’s non-Farm Payrolls projections.  The new report from ADP is predicting that U.S. private sector firms added 170,000 jobs in the month of January.  That was effectively right in line with the consensus estimates presented by Dow Jones and close enough to in line with the Bloomberg consensus reading of 172,000 expected.

ADP noted that small businesses were 95,000 of the 170K; Medium businesses were 72K; Large business was only 3K… The goods producing sector was 18K; the services sector was another 152K.  This may help to maintain a positive tone for non-Farm payrolls due Friday.  Bloomberg has a consensus of 135,000 for that figure due at 8:30 AM EST on Friday morning.

It does need to be noted that the December huge number report was revised down a bit.  It was still way above what was the government figure at the time, but lower nontheless.  The December figure was revised lower to 292,000 from a prior much more aggressive 325,000 reported.