ADP numbers often vary widely from the payrolls number reported by the government that will be released Friday, though 500,000 probably would not be a surprise.
ADP has been grossly underestimating the last 6 months. They supposedly updated their methodology this month so we’ll see. January & February will be worse.
I'll say.
Just last week ADP reported a 250,000 decline.
Initial Jobless Claims were actually 492,000, almost 100% more than the ADP number!
The Leftside press and Obama hype every politically useful statistic and then talk the economy down as hard and as viciously as they can.
Otherwise, what possible justification do the Democrats have for a government directed trillion dollar stimulus?
If Initial Claims and the Unemployment Rate come in better than expected this week, these same people will suddenly tell us that the data suck and must be ignored.