Whilst the ISM Non Manufacturing Index; due for release later this morning; provides an indication of Economic strength, the ADP Unemployment Change data will provide a more immediate insight into Friday’s Non Farm Payroll data. Due for release at 1215 GMT, the ADP data is expected to show that employment in the US Private Sector expanded by around 198,000 jobs during April; a figure which would be inkeeping with average monthly gains of 200,000 jobs during the first three months of 2011.
The forecast for job creation in the region of 200,000 looks to be in line with other reports, including the ISM Manufacturing report released earlier in the week which saw employment levels remain strong at 62.7. The ISM Non Manufacturing data is expected to show equally positive levels in its Employment Index. Some analysts also recognise mid month Jobless Claims as confirmation, which; despite having risen to 429,000 in the most recent release; were reported as 404,000 for the week ending 15th April.
Despite the implications of each of the releases identified above, as always it will be Friday’s Non Farm Payroll release that attracts the most attention. Nevertheless, each of the above delivers its own insights into current US payroll levels, and could therefore provide useful insights for those looking to preempt the eventual NFP figure later in the week.
No comments:
Post a Comment