- Markit PMI: Service Survey - Japan PMI (Aug); Markit PMI: Composite - Japan PMI (Aug)
- Korea: GDP (Q2)
- Australia: Retail Trade, International Trade (Jul); New Zealand: Construction Work Put in Place (Q2)
- US: BEA Auto Sales (Aug), Manufacturers' Shipments Inventories and Orders (Jul), Productivity and Costs (Q2), ADP Employment Report (Aug)
- more updates...
Economy in Brief
U.S. Productivity is Revised Higher Following Two Quarters of Decline
Nonfarm productivity growth during Q2'15 was revised higher to 3.3% from 1.3% reported initially...
U.S. Factory Sector Orders Improve
New orders in the manufacturing sector improved 0.4% during July (-15.2% y/y)...
EMU Producer Prices Continue to Fall
The PPI headline shows a monthly drop of 0.2% in July and a year-over-year decline of 2.1%...
U.S. Light Vehicle Sales Crest 10-Year High, Led by Imported Light Trucks
Total sales of light vehicles increased 1.5% during August to 17.81 million units (SAAR, 2.8% y/y)...
U.S. ISM Factory Index Weakens to Two-Year Low
The ISM U.S. Composite Index fell to 51.1 during August following an unrevised decline to 52.7 in July...
U.S. Crude Oil Prices Surge; Gasoline Prices Decline
Crude oil prices found new life last week...
by Tom Moeller September 2, 2015
The ADP/Moody's National Employment Report indicated that nonfarm private sector payrolls increased 190,000 during August following a 177,000 July rise, initially reported as 185,000. The gain fell short of consensus expectations for a 195,000 increase in the Action Economics Forecast Survey. During the last ten years, there has been a 97% correlation between the change in the ADP figure and the change in nonfarm private sector payrolls as measured by the Bureau of Labor Statistics.
The ADP survey is based on ADP's business payroll transaction system covering 411,000 companies and nearly 24 million employees. The data are processed by Moody's Analytics Inc., then calibrated and aligned with the BLS establishment survey data.
Small-sized payrolls improved a moderate 85,000 (2.6% y/y), below the 138,000 high during June last year. Medium-sized payrolls improved a steady 66,000 (2.1% y/y). Large payrolls increased 40,000 (1.7% y/y), up from little m/m growth earlier this year.
Employment in the goods-producing sector rose an improved 17,000 (1.7% y/y). Hiring in construction posted a steady 17,000 increase (4.7% y/y). Manufacturing sector jobs improved a modest 7,000 (0.8% y/y). Jobs in the service sector increased 173,000 (2.3% y/y), down from the 248,000 high during June 2012. Jobs in professional & business services improved 29,000 (2.6% y/y) and trade, transportation & utilities employment increased 28,000 (1.9% y/y). Employment in the financial sector rose 13,000 (1.8% y/y).
The ADP National Employment Report data are maintained in Haver's USECON database; historical figures date back to April 2001. The figures in this report cover jobs only in the private sector. The expectation figure is available in Haver's AS1REPNA database.
The Fed's latest Beige Book covering regional economic conditions is available here.
|ADP/Moody's National Employment Report||Aug||Jul||Jun||Aug Y/Y||2014||2013||2012|
|Nonfarm Private Payroll Employment (m/m chg, 000s)||190||177||231||2.2%||2.3%||1.9%||2.3%|
|Small Payroll (1-49)||85||63||119||2.6||2.1||1.9||2.5|
|Medium Payroll (50-499)||66||61||81||2.1||2.8||2.2||2.1|
|Large Payroll (>500)||40||53||31||1.7||1.8||1.6||2.1|