| The main December jobs report is Friday, but we got some advance data today from the payroll company ADP. ADP found payrolls declined 123,000 in December. There was weakness across all sectors.
By the numbers: The ADP figure could portend a weak jobs report on Friday from the Bureau of Labor Statistics (BLS), although the two don’t always align. BLS has shown job growth every month since April.
Bottom line: The ADP report is another indicator that the resurgence of the virus late last year has taken an economic toll.
—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce |
