ADP Employment “Moderates” As Manufacturing Jobs Fall Again
by Tyler Durden
ZeroHedge.com
6/2/2016
Printing a perfectly as-expected 173k rise in jobs for May, ADP Employment change offers hope for tomorrow’s payrolls to give The Fed the go-ahead for a rate-hike. This is still the second lowest print since last September as manufacturing (and goods-producing) jobs fell once again. However, as even the always optimistic Mark Zandi notes, “Job growth has moderated this spring as energy companies and manufacturers shed jobs. Retailers are also more circumspect in their hiring.”
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