Private Nonfarm Payroll Employment in April

Professor of Public Affairs and Economics at the University of Wisconsin • May 6, 2021 at 12:36 AM EDT

ADP private nonfarm change at 742K below consensus of 800K (Bloomberg).

Figure 1: Private nonfarm payroll employment from BLS October release (black), Bloomberg consensus for April as of 5/5 (teal square), ADP November release (red), all on log scale. Source: BLS, ADP via FRED, Bloomberg, and author’s calculations.

Disclosure:

None.