-
Here's Why ADP Says Its Jobs Numbers Were So Different From the Government's
On Wednesday, ADP Research Institute said U.S. companies had added 568,000 jobs last month. On Friday, a Labor Department report showed they’d added 317,000. The gap -- a difference of 251,000 between the two data points -- is attributable to a miss in the leisure and hospitality sector, according to ADP Chief Economist Nela Richardson. Her firm saw the sector continuing to lead the jobs recovery, and though it did play a role in the government report, it wasn’t as great as what she had expected. “All of this is underscored by the fact that this is a really tumultuous labor market,” Richardson said on ... (full story)