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US: Private payroll growth likely slowed in January – SocGen
FXStreet (Delhi) – Research Team at Societe Generae, suggests that despite its admittedly spotty record in forecasting the Bureau of Labor Statistics’ private payroll series, the ADP National Employment Report may still impact expectations heading into the official government release.
Key Quotes
“A reported improvement in real business conditions since the December establishment series suggests that 235K private workers were added during the reference period, a touch below the prior month’s 257K-job gain. As has been the case since the current expansion began in mid 2009, we would expect a little over three quarters of the prospective employment rise to be attributable to steeped-up hiring by small (less than 50 workers) and medium-sized (50-488 workers) entities.”
