ADP private-sector job growth surges by 275,000 – as its own economist downplays report

[McFurd]

MarketWatch - 5/1/2019 - Andrea Riquier -The numbers: Private-sector employers hired 275,000 people in April, payroll-processor ADP said Wednesday. That topped economists’ consensus surveyed by Econoday for 180,000 jobs added. What happened: ADP’s estimate of job gains is designed to give investors an early read on the more closely followed nonfarm-payrolls report from the Labor Department on Friday. However, Mark Zandi, Moody’s Analytics chief economist and architect of the ADP report, cautioned that market participants shouldn’t get too ebullient based on the U.S. employment figures. Read more @ https://www.marketwatch.com/story/adp-p ... quote_news