US: Expect ADP employment to report an increase of 185k - Nomura

Analysts at Nomura suggest that reflecting their forecast for private payrolls in the BLS employment report on Friday, they expect US ADP to report an increase of 185k in private payrolls for December (Consensus: 190k).

Key Quotes

“Initial jobless claims: Although initial jobless claims can be volatile at this time of year, we expect claims to remain subdued as the labor market continues to show strength. Consistent with this view, we expect a 190k increase in nonfarm payroll employment in December along with a 0.1pp decline in the unemployment rate (to 4.0%) for this Friday’s employment report from the BLS.”