U.S. November ADP nonfarm employment 32,000 ↓…far below expectations

Last month, the U.S. private-sector employment indicator fell far below market expectations.

On the 3rd (local time), according to the Automatic Data Processing (ADP) employment report, the number of nonfarm employees in the U.S. last month decreased by 32,000 compared with the previous month. This figure is 37,000 below experts' projection (5,000). Compared with the revised October figure (47,000), it is 79,000 fewer.

The ADP employment report is usually released two days before the U.S. Department of Labor's Bureau of Labor Statistics (BLS) employment report and is considered a kind of 'preview.' However, it does not always move in the same direction as the government's official statistics.

The market paid attention to this ADP employment report because recent U.S. federal government shutdown (temporary suspension of operations) disrupted labor market surveys. The market thinks the ADP employment indicator could act as a key variable for the December Federal Open Market Committee (FOMC).

Meanwhile, the U.S. Bureau of Labor Statistics plans to release the November employment report on the 16th of this month.