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2 Oct 2013
Flash: ADP Suggests Steady Labuor Market Momentum - Nomura
FXstreet.com (London) - With the NFP’s out for this week, Nomura stresses the importance of the information gathered from the ADP.
Key Quotes:
“The ADP report for September carries more weight than usual in understanding labor market momentum, due to uncertainty about when the BLS will release its September employment report in lieu of the government shutdown. As of now, it appears as if the labor market grew at a measured pace in September”.
“Initial jobless claims have declined in September, even after stripping out the impact of technical issues, and point to a slight improvement in the labor market. The published shutdown plan for the Department of Labor states that it expects to continue to publish the weekly initial jobless claims report during the government shutdown”.
“So tomorrow we’ll see what that report says about the state of the labor market in the final week of September”.
Key Quotes:
“The ADP report for September carries more weight than usual in understanding labor market momentum, due to uncertainty about when the BLS will release its September employment report in lieu of the government shutdown. As of now, it appears as if the labor market grew at a measured pace in September”.
“Initial jobless claims have declined in September, even after stripping out the impact of technical issues, and point to a slight improvement in the labor market. The published shutdown plan for the Department of Labor states that it expects to continue to publish the weekly initial jobless claims report during the government shutdown”.
“So tomorrow we’ll see what that report says about the state of the labor market in the final week of September”.