ADP: Private Payrolls Increased 156K In April

Consumer spending and economic growth are slowing and now the labor market, at least based on ADP's estimate, is softening. ADP sees private payrolls rising only 156,000 in April for what would be one of the weakest prints of the economic cycle and the lowest since 142,000 in February 2014. ADP, whose reputation as a leading indicator isn't perfect, has nevertheless been on a 4-month hot streak and today's report is certain to raise talk of trouble for Friday's employment report.

Recent History Of This Indicator:
The ADP employment report has been on the mark this year, offering a run of accurate signals on the strength of the labor market. Forecasters see Friday's employment report for April showing strength and likewise see ADP showing strength as well, at a consensus 195,000 for the government's private payroll gain and 193,000 for ADP's private payroll count.