3 June 2020 ADP Likely to Report a 10M Drop in May Payrolls, Risks in Both Directions

Ian Shepherdson (Chief Economist and Founder)2nd Jun 2020 20:20U.S., Economic Monitor

We're expecting ADP today to report a 10M drop in private payrolls in May, but investors should be braced for surprises, in either direction, because ADP's methodology is not clear.

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adp April auto sales bls businesses chainstore sales consumer core retail sales employment growth housing housing demand housing market index investors ism ism index ism non-manufacturing ism survey jobless claims June manufacturing March May mortgage mortgage demand oil oil prices orders payroll payrolls private payrolls redbook remain retail retail sales sales growth sales numbers supply survey surveys

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