ADP National Employment Report Misses Estimates

ADP National Employment Report Misses Estimates

Stocks are lower across the board after the May ADP employment report missed Wall Street estimates.  ADP reported the payrolls increased 133,000, missing estimates of 157,000 by a wide margin.  The prior reading of 119,000 was also lowered to 113,000.

The news comes after a slew of bad economic reports.  Earlier this week Consumer Confidence, Pending Home Sales and the GDP second reading all miss estimates by a wide margin. The news left Wall Street nervous about Friday’s government employment numbers and increased the thought that the U.S. economy is slowing down.

For the full ADP press release and report, click on the following links.

ADP Employment Report Press Release

ADP Employment Full Report