ADP Private Sector Employment Analysis
Published At: Jun 30, 2024 by Verified Invesing
Private sector employment data is set to be released on Wednesday, July 3rd. Expectations are for private sector employment to grow by 156,000 vs last month which saw 152,000 jobs added.
Considering some of the recent economic data, this number may come in lower-than-expected. In addition, watch to see if last month's 152,000 jobs added gets revised lower.
Also, this week we will get the JOLTS data (job openings) and Non Farm Payrolls Report.
This is a major week to test how strong the job market is. It will have a big influence on whether the Federal Reserve cuts rates in 2024 or stays on the sidelines.
Note the chart above that shows the ADP private sector data over the last year.
