ADP: -23k Jobs Lost In March, Initial Rate Decline Reaction Now Reversing. Official BLS Jobs Report Friday

Today, ADP, a provider of payroll services to 22 million Americans employed in the private sector, released their monthly jobs data which showed that the economy lost -23k jobs in March, but these numbers don’t include 2010 Census hiring. Expectations called for a gain of 40k jobs, and bond markets initially rallied on the news, pushing rates slightly lower. But as the trading day has continued, bonds have reversed and rates are worse. The market sentiment is holding that Friday’s official BLS jobs report will come in with about 185k jobs gained, and this number will include Census hiring. This improving economic sentiment causes bonds to sell off, which pushes rates higher.

You can view previous months of both reports by clicking the ADP and BLS tags below, and you can also scroll to our data section to review current and historical jobs data. Additional ADP March Jobs Report Data is below:

March’s ADP Report estimates nonfarm private employment in the service-providing sector increased by 28,000, the second consecutive monthly increase. However, this employment growth was not enough to offset job losses in both the manufacturing and construction sector. Employment in the goods-producing sector declined 51,000, with employment in the manufacturing sector declining by 9,000.

Large businesses, defined as those with 500 or more workers, saw employment decline by 7,000 while small-size businesses with fewer than 50 workers, declined 12,000. Employment among medium-size businesses, defined as those with between 50 and 499 workers, declined by 4,000.

In March, construction employment dropped 43,000. This was the smallest decline since July of 2008, but basically unchanged from the decline of 44,000 during February 2010. Employment in the financial services sector dropped 8,000.