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.
Overview
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.
How to interpret the result
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.