ADP Reports Payroll Jobs Up 158,000
U.S. private employers likely added 158,000 jobs in November, according to a survey by ADP Employer Services, a private employment service. The report came in above current consensus estimates (Play-By-Play: ADP National Employment Numbers Higher Than Expected). The dollar edged up and U.S. Treasuries fell on the news.
The median forecast for the ADP survey from economists polled by Reuters pointed to a reading of 125,000 new jobs for the November report.
Automatic Data Processing, based in Roseland, New Jersey, is the parent of ADP Employer Services and is a large payroll services company. The employment report was jointly developed
with Macroeconomic Advisers LLC.
Macroeconomic Advisers is based in St. Louis, Missouri. The ADP National Employment Report is released each month, two days prior to the government's own job survey.
According to the latest Reuters poll of economists, the U.S. Labor Department's closely watched employment report on Friday is expected to show that 110,000 non-farm payroll jobs
were created in November, up from 92,000 in October.