ADP: 200K Added To Private Payrolls In March

Little else may be falling into place but the U.S. labor market is likely to show its strength once again in Friday's March employment report, based at least on ADP's private payroll count which came in very near expectations at 200,000 on the nose. There's little change from February when ADP's sample posted revised growth of 205,000. Expectations for Friday's private payrolls are also at 200,000 which would prove a very healthy level though down from February's even stronger 230,000. ADP isn't always an accurate barometer of the government's data but it has definitely been useful the last several reports, signaling convincing acceleration in December, slowing in January, then strength again in February.

Recent History Of This Indicator:
The ADP employment report doesn't always match the government's employment report but it has been accurate the last several reports, signaling convincing acceleration in December, slowing in January, then strength again in February. Forecasters see Friday's employment report for February showing strength and likewise see ADP showing strength as well, at a consensus 203,000 vs ADP's private payroll count of 214,000 in February.