The weekly data from ADP is turning into a market mover.
The initial report showed a healthy +14,250 jobs but skip ahead two weeks and it’s now showing a drop of 11,250K per week on average for the past four weeks.
That should translate into a poor reading, though ADP itself reported +42K jobs in October. I’m not sure how to square that but today’s ADP release said the labor market struggled to produce jobs consistently during the second half of October.
This article was written by Adam Button at investinglive.com.