Automatic Data Processing ADP Employment Report

The ADP Employment Report is issued at the end of the month two days before the Employment Situation Report. About 0.4 million businesses with 24 million employee from the private section go into this figure. The importance of this figure is because of its influence on monetary policy with respect to interest rates. When the job market is tight this will put upward pressure on wage inflation which will lead to higher interest rates, lower bond prices and a rising stock market. The opposite is true for stable or decreasing (rare) wages.