The Economy & the Fed

ADP National Employment Report

A monthly count of private-sector jobs from ADP, the payroll company, built with Stanford’s Digital Economy Lab from the anonymized payroll records of more than 25 million US employees. It comes out on the Wednesday before the government’s jobs report and is read as a preview, but it is an independent estimate, not a forecast of the official figure, and the two often differ by tens of thousands of jobs. It covers private employers only, never government, and breaks hiring down by industry and by the size of the employer, which the official report does not.

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