The news: ADP Research said that it will now be releasing US payroll data every week, in addition to its monthly report, to provide high-frequency data covering the US labour market.
The numbers: According to a statement released Tuesday, ADP estimates payrolls increased 14,250 on average in the four weeks that ended 11 October.
The context: ADP’s figures are a four-week moving average of the latest total private employment change, and will be released on Tuesdays at 8:15am ET (11:15pm AEDT) going forward.
Since the US government shut down earlier this month, data released by third party sources has become increasingly significant as government agencies that produces economic data were forced to suspend official data releases.
The US Bureau of Labor Statistics is likely to delay the release of October’s employment figures which are due for release on 7 November.
ADP will publish its monthly payrolls estimate alongside its October report due on 5 November.
What they said: “For nearly two decades we have provided our valuable labor market data to the public at no cost through the ADP National Employment Report,” Nela Richardson, chief economist at ADP, said in the statement. “ADP’s near real-time employment data, released weekly, will now provide an even clearer picture of the labor market at this critical time for the economy.”
“This high-frequency employment pulse, like the monthly National Employment Report, is based on ADP’s anonymized and aggregated administrative data on private-sector payrolls, providing a dynamic view of job creation and loss at an unprecedented level of weekly detail.”