ADP National Employment Report Preliminary Estimate / NER Pulse
ADP Weekly Employment Change is a high-frequency estimate of U.S. private-sector job growth. It gives an early read on whether private employers are adding or cutting jobs.
Full explanation
ADP Research publishes the NER Pulse as a weekly update to its monthly National Employment Report. The measure is based on ADP's anonymized payroll data and is reported as a seasonally adjusted four-week moving average of private employment change. It is preliminary and can change as more payroll data become available.
Why traders watch it
Traders watch it for early clues about U.S. labor-market momentum, Fed policy expectations, Treasury yields and USD sentiment.
Stronger vs weaker outcomes
A stronger-than-expected figure may suggest firmer hiring and potential wage or demand pressure. A weaker-than-expected figure may suggest cooling labor demand, but it should be compared with official payrolls, jobless claims and other labor indicators.
Related indicators
Advance Merchant Wholesale Inventories month-over-month change
U.S. Wholesale Inventories MoM measures the monthly change in goods held in stock by merchant wholesalers. It shows whether wholesalers are building or drawing down inventories.
American Petroleum Institute Weekly Statistical Bulletin Crude Oil Inventory Change
This is a weekly estimate of the change in U.S. crude oil inventories reported by the American Petroleum Institute. A positive number means stocks rose, while a negative number means stocks fell.
ANZ Business Outlook - Business Confidence
ANZ Business Confidence shows whether New Zealand firms are generally optimistic or pessimistic about business conditions. The headline figure is usually a net balance, meaning the share expecting improvement minus the share expecting deterioration.
Australia Financial Aggregates - private sector credit growth
Australia Private Sector Credit tracks growth in credit provided to households and businesses by domestic financial institutions. The MoM version compares with the previous month, while the YoY version compares with the same month a year earlier.
Australia Housing Credit Month-over-Month
Australia Housing Credit MoM measures the monthly change in outstanding credit used for housing. It shows whether housing-related borrowing is expanding or slowing from one month to the next.
Austrian Treasury Bill Auction
This is an auction of short-term bills issued by the Republic of Austria. Investors bid for the bills, and the results show the government’s short-term funding cost and demand for the paper.