Wednesday, May 5, 2010
ADP is now estimating that the private sector has been adding jobs, albeit not many—only 54,000, for the past three months. That's old news at this point, however, since the BLS establishment survey found about 150,000 new private sector jobs in the first quarter (government job gains are going to be misleading for awhile due to Census hiring). So the real question is how fast the economy will be creating new jobs going forward. The Bloomberg estimate for the jobs report this Friday says we'll see about 100K new private sector jobs. ADP is not quite so sanguine, but it has been underestimating job gains recently, so who knows?
Posted by Scott Grannis at 8:39 AM