Loading ...ADP Employment Drops, Misses; Zandi Admits “Jobs Growth Slowing”
Tyler Durden’s pictureSubmitted by Tyler Durden on 03/04/2015 08:24 -0500
Another day, another missed data point. ADP Employment data shows 212k jobs added in February, which modestly missed expectations of 219k and is the weakest monthly gain in 6 months. This despite a strong prior revision, pushing the January number up from 213K to 250K to catch up to the BLS runrate. Despite the miss, that showed large businesses adding by far the fewest jobs, Mark Zandi as usual remains optimistic: “jobs growth is strong but slowing,” and expects the economy “will return to full employment by mid-2016.”