Jobs Indicator With Little Predictive Value Shows Little Change
ADP says 118,000 private sector jobs were created in November, down from 157,000 in October and just under the consensus estimate of 125,000.
Even without superstorm Sandy gumming up the works, ADP's track record at predicting the subsequent government data (due out Friday) is mixed at best. Still, a fiscal-cliff-headline-weary investing public showed a little love by dutifully trimming gains (slightly) in pre-market trading.
Handcrafted by Flip on December 5, 2012 |
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