Wednesday, February 1, 2012
The ADP estimate of January private sector job gains dipped from its relatively strong December level, but is fully consistent with the 163K jobs number this Friday that the market is expecting. No sign here of any meaningful deterioration. As with the manufacturing report today, this is one more reason to expect 3-4% growth, and one more reason to not worry about a double-dip recession.
Posted by Scott Grannis at 8:23 AM