Jul 02
Economists appear to be unanimous in their calls for increased
downside risk to Thursday’s BLS nonfarm payrolls report,
following a weaker-than-expected ADP private employment report for June.
ADP figures showed a decline of 79k jobs in the month against
expectations of only a 20k loss following three months of upside
surprises.
“Expect a weak official report tomorrow,” added Ian Shepherdson, chief
U.S. economist at HFE, who called the previous month’s 15k downward
revision “grim.”