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Jobs Frenzy

NAB Morning Call

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The Decline of Non-Farm Payrolls

The April number was revised up a bit to 10.3 million, but the main number, I mean, it did fall, but nowhere near as much as expected. But this is quite a response to ADP. Do we see this ADP numbers reliable? Normally? No, we don't. And if we look at it, it has undershot non-farm payrolls by as much as 337,000. The average error is about 66 over 67,000. So it's not a great predictor. You know, we want to see nobody can say what this means for non-farm jobs today.

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