ADP Signals Weakest Job Market Since Inauguration Day
View Source | November 30, 2022 8:31 am
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- The Midterms are over and so any pretense of a ‘strong as hell’ economy are out of the window, providing some ammo for folks to believe this morning’s ADP report (ahead of Friday’s payrolls print) may come in very ugly.
- After a notable rise in October (despite an aggressively tightening Fed), expectations were for a smaller +200k print in November but instead ADP reports only 127k jobs were added in November – the lowest since Jan 2021
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