Joe Weisenthal
Aug. 3, 2011, 8:17 AM
The number:
Relief!
The ADP jobs report beat expectations at 114K, which is a bit better than expected. ADP hasn't been that reliable, but just the fact that it wasn't a huge miss is a positive. Still, it's down from last month's revised 145K, which was well above where BLS was. From the release (which you can download here) note that most of the job creation came and the small & Medium end.
Original post: Jobs week continues as the ADP Employment Report comes out at 8:15 AM. Analysts expect the survey to show 100K private sector jobs vs. 157K last month. Given how bad the data has been lately (including this morning's Challenger Layoffs Report), just hitting the number would probably be a relief.