ADP’s Jobs Surprise Doesn’t Portend Same in Official Data: ChartBy
The ADP Research Institute’s U.S. jobs-growth number for July was a modestly pleasant surprise at 179,000, about 5 percent more than the median forecast in Bloomberg’s survey. Does that bode well for the official jobs number the U.S. Bureau of Labor Statistics releases Friday? Don’t count on it: Both sources surprise to the upside only about a quarter of the time.
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