2009 Economic Calendar
POWERED BY  econoday logo
Resource Center »  U.S. & Intl Recaps   |   Release Dates   |   Event Definitions   |   Today's Calendar.

ADP Employment Report
Released on 1/7/2009 8:15:00 AM For December, 2008
PriorActual
ADP employment-250,000 M/M change (000)-693,000 M/M change (000)

Highlights
ADP's estimate for December private payrolls, at -693,000, falls in line with those who have been warning that Friday's jobs report will be one of, if not the, weakest ever. But other indicators for December are less clear: jobless claims are high but are hard to judge during the holiday season; Challenger's layoff total posted earlier this morning was not as high as November while yesterday's employment index in the ISM non-manufacturing report was likewise weak but still an improvement.

This month marks an important point for the ADP report which has not impressed observers with its accuracy and which once again has been heavily revised through prior months and now shows -476,000 for November vs. an initially reported -250,000. Money moved into the Treasury market in immediate reaction to ADP's headline.

Definition
The ADP national employment report is computed from a subset of ADP records that in the last six months of 2008, represented approximately 400,000 U.S. business clients and approximately 24 million U.S. employees working in all private industrial sectors. The data are collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments. ADP also use ADP contracted with Macroeconomic Advisors to compute a monthly report that would ultimately help to predict monthly nonfarm payrolls from the Bureau of Labor Statistic's employment situation. The ADP report only covers private (excluding government) payrolls at this time. As a simplification of the process used by Macroeconomic Advisors, estimates are based upon statistical comparison of ADP growth rates to BLS payroll employment growth rates at the industry level. ADP also adds in the BLS initial claims data for the week just prior to the employment report as part of its estimation procedure. (Automatic Data Processing (ADP)/Macroeconomic Advisers)  Why Investors Care
 
[Chart] The new ADP employment report is aimed at improving payroll forecasts by providing information in advance of the employment report.
Data Source: Haver Analytics
 

2009 Release Schedule
Released On: 1/72/43/44/15/66/37/18/59/29/3011/412/2
Released For: DecJanFebMarAprMayJunJulAugSepOctNov
 



 
powered by [Econoday]
Legal Notices | © Copyright 2000-2009 Econoday, Inc.