- The ADP Employment Change for July was +9K versus estimates of -60K and -77K in June.
BOTTOM LINE: Companies in the US unexpectedly added an estimated 9,000 jobs in July, Bloomberg reported. Service providers added 74,000 workers, with financial firms increasing jobs by 4,000. Construction employment fell by 16,000. Large companies cut payrolls by 32,000, while small companies increased payrolls by 50,000. The US Dollar Index is rising another .13% and the 10-year yield is 5 basis points higher on today’s reports. I expect the change in non-farm payrolls to come in better than estimates of -75K this Friday.
No comments:
Post a Comment