Comparison of ADP Employment vs Nonfarm Payroll Change
Earlier today, ADP employment change for the month of April came in at 119k, lower than the 170k that was estimated. While seen as a good indicator for private job growth, the more significant number comes out this Friday. Expectations are for 170k.
Is ADP employment change a good predictor of Nonfarm payrolls? Take a look at this chart provided by Bloomberg:
Stock chart:
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