US: Watch ADP employment for labour market clues – Lloyds Bank

Research Team at Lloyds Bank, suggests that as Friday’s US February labour market report draws nearer, financial markets will pay close attention to today’s unofficial ADP private sector employment figures as a potential early gauge. 

Key Quotes

“We look for a rise of 180,000 in the ADP data, which would add to expectations of a moderate rebound in the official figures. The big picture is that monthly employment growth continued in Q1, but below the monthly average of about 280,000 in Q4.”