Pantheon Macroeconomics - Our payroll model relies heavily on lagged indicators of the pace of hiring, most of which have improved in recent months after a sustained, though modest, softening which began last spring. That's why we expected an above-consensus reading from ADP on Wednesday and from the BLS today.

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3 February 2017 Upside Risk For Payrolls and Hourly Earnings in January Data Today

By Ian Shepherdson

Our payroll model relies heavily on lagged indicators of the pace of hiring, most of which have improved in recent months after a sustained, though modest, softening which began last spring. That's why we expected an above-consensus reading from ADP on Wednesday and from the BLS today.

Posted: 2nd Feb 2017 in 'U.S. Documents'

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