Solid ADP Private Sector Numbers - Precursor to Tomorrow's Jobs Report

The monthly ADP Jobs report for May was released this morning. There were revisions across the board to the April Jobs Number - totaling a minor downward revision of 4,000 jobs.  Four sectors saw upward revisions while 6 saw downward revisions. We saw month to month growth in eight of the ten ADP sectors and we saw year to year growth in all sectors.

We saw growth in Eight Sectors. We saw growth in the Construction, Mining, Manufacturing, Profession and Business Service, Trade/Transportation/Utility, Financial Services, and Education/Health Services sector from the April Levels. We saw fewer jobs in the Leisure/Hospitality and IT Sectors.

We saw May to May Growth in ALL sectors. The largest gains were in the Professional and Business Services, Education and Health Services, Leisure and Hospitality, TTU, and Construction Sectors. The Construction sector is vitality important to the rest of the economy. 

We saw the Total Number of Jobs reduced by 4,000 Jobs. We saw downward revisions to goods producing jobs of 6,000 jobs and an upward revision of 2,000 jobs for service producing Jobs

The net jobs gains of 253,000 Private Sector Jobs was better than most others expected.  Remember that this is a seasonally adjusted number - they may not have the same seasonal factors as the  Current Employment Statistics(CES) data set. Remember that the data collection sample sizes differ between the CES, CPS (Current Population Survey) and the ADP report. Remember that the headline number tomorrow may be reported as the Non-Farm Payroll number and not the Private Sector Number. ADP is Private Sector data.

It's the economy.