Top Stories
Top Stories
Market Insider

ADP jobs report suddenly got a lot more important

A welder works on a pipe fitting at a construction site in Boston
Robert Nickelsberg | Getty Images

The ADP private sector payrolls report, usually a warm up act for the U.S. government's monthly jobs report, takes center stage this week as the government shutdown leaves Wall Street with a dearth of economic data.

The report will be issued at 8:15 a.m. ET Wednesday. It is usually looked at for guidance on hiring, but has not been a consistent guide to the government employment report. There will be weekly jobless claims data on Thursday as well. However, the chances of the government reopening in time for its official monthly employment number to be reported on Friday look slim.

(Read more: Shutdown is nothing: Debt ceiling debacle could be real ugly)

With the Fed focused heavily on economic updates, particularly employment reports, to guide its bond purchase program, traders had been fixated on every release. The Fed last month held back on slowing its $85-billion-a-month bond purchase program because of financial conditions and the sluggish economy. It also cited fiscal uncertainty.