ADP: -169k Jobs Lost In November, Official BLS Jobs Report Friday

Today, ADP, a provider of payroll services to 23 million Americans employed in the private sector, released their monthly jobs data which showed that the economy lost -169k jobs in November, a bit worse than expected. November was the eighth consecutive month during which the decline in employment was less than in the previous month. Although overall economic activity is stabilizing and this was the least amount of job losses reported by ADP since July 2008, employment usually trails economic activity, so it is likely to decline for at least a few more months.

This slowing of job losses will be confirmed Friday when the official Bureau of Labor Statistics jobs report comes out Friday. You can view previous months by clicking the ADP tag below. After reporting numbers way under official BLS numbers throughout 2008, ADP reports have been close to the official government jobs report produced by the Bureau of Labor Statistics this year. The jobs report has a large impact on markets, and mortgage rates always move on this report since it’s such a broad measure of the economy, covering consumer strength, unemployment and wage inflation. Rates are still holding onto the lowest levels since 1971—the lowest on official record.