TechFlow news, 8:15 PM Singapore time, June 5, 2024 — the U.S. Automatic Data Processing (ADP) company is about to release the U.S. ADP employment change (in ten thousands) for May 2024. This data indicator is released monthly, typically on the first Wednesday of each month.
Data significance: Known as the "Little Non-Farm," this refers to the monthly index published by Automatic Data Processing (ADP), officially named the ADP National Employment Report. The report measures changes in private-sector, non-farm employment in the United States, drawing data from approximately 500,000 anonymous U.S. businesses. The ADP employment data is widely regarded as one of the key indicators of the U.S. labor market’s condition and is frequently used to forecast and analyze the overall health of the U.S. economy.
Compared with the official Non-Farm Payrolls report released monthly by the U.S. Bureau of Labor Statistics (BLS)—commonly referred to as the "Non-Farm" report—the ADP report is considered an early preview. Because it is released earlier than the BLS report, the ADP data is sometimes used by investors and economists as a reference point for predicting the BLS figures.
Market impact: If the actual figure exceeds expectations, it is USD-positive and non-USD currencies-negative. It supports higher Treasury yields, reduces expectations for rate cuts, increases expectations for rate hikes, and negatively impacts risk markets including cryptocurrency markets.
XT Research Institute rating: 🌟🌟🌟🌟
XT Research Institute note: *Data sourced from Jinshi Data. This article does not constitute investment advice.
