Loading ...ADP Employment Disappoints, Suffers Drastic Downward Revisions
After May’s collapse, ADP employment gains have rebounded notably but were expected to slow once again in September (which makes some sense given the collapse in ISM/PMI employment indices).
But things were considerably worse – not only did September’s data miss (+135k vs +145k exp) but Augusts’s big jump of 195k was revised drastically lower to just 157k.
Source: Bloomberg