Econoday Economic Report: ADP Employment Report September 6, 2012

2012 Economic Calendar

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ADP Employment Report

Released On 9/6/2012 8:15:00 AM For Aug, 2012

	Prior	Prior Revised	Consensus	Consensus Range	Actual
ADP employment	163,000	173,000	149,000	90,000 to 165,000	201,000

Highlights
Seeing strength for tomorrow's employment report, ADP estimates private payrolls in August will rise 201,000. This is well above the high end of expectations at 165,000 and also well above ADP's revised level for July of 173,000. Stock futures are moving higher in immediate reaction to this report.

Market Consensus before announcement
ADP private payroll employment rose 163,000 in July, following a revised 172,000 total for June. In comparison, the BLS figure for private nonfarm payrolls was 172,000 for July and 73,000 for June.

Definition
The ADP national employment report is computed from a subset of ADP records that in the last six months of 2008, represented approximately 400,000 U.S. business clients and approximately 24 million U.S. employees working in all private industrial sectors. The data are collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments. ADP also use ADP contracted with Macroeconomic Advisors to compute a monthly report that would ultimately help to predict monthly nonfarm payrolls from the Bureau of Labor Statistic's employment situation. The ADP report only covers private (excluding government) payrolls at this time. As a simplification of the process used by Macroeconomic Advisors, estimates are based upon statistical comparison of ADP growth rates to BLS payroll employment growth rates at the industry level. ADP also adds in the BLS initial claims data for the week just prior to the employment report as part of its estimation procedure. (Automatic Data Processing (ADP)/Macroeconomic Advisers) Why Investors Care

The new ADP employment report is aimed at improving payroll forecasts by providing information in advance of the employment report.
Data Source: Haver Analytics

2012 Release Schedule

Released On: 1/5 2/1 3/7 4/4 5/2 5/31 7/5 8/1 9/6 10/3 11/1 12/5

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