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ADP report

8:15 AM ET, May 02, 2007 - 16 minutes ago
U.S. April ADP goods ex-manufacturing down 22,000, 5-yr low
U.S. April ADP services jobs up 106,000, goods down 42,000
U.S. April ADP employment report up 64,000, 4-year low

ECONOMIC REPORT: Private-sector jobs up 64,000, ADP says; April had weakest job growth in nearly four years
By Rex Nutting, MarketWatch Last Update: 8:17 AM ET May 2, 2007

WASHINGTON (MarketWatch) - U.S. private-sector jobs increased by 64,000 in April, the weakest job growth in nearly four years, according to the monthly ADP employment report released Wednesday.
Service-sector firms added about 106,000 jobs, while the goods-producing industries cut 42,000, including 20,000 in manufacturing. Goods-producing industries include manufacturing, mining and construction. The 22,000 jobs lost in goods-producing industries excluding manufacturing is the largest since November 2001.
Small businesses created 45,000 jobs, medium-sized firms created 29,000 and large businesses shed 10,000 jobs.
The ADP index, produced by Macroeconomics Advisers LLC for Automatic Data Processing Inc. (ADP) is considered by some economists to be the single-best indicator of the government's monthly nonfarm payroll report, which is due out on Friday.
The ADP report is designed to mirror the monthly nonfarm payrolls report released by the Labor Department on Friday. One difference: the Labor Department statistics include government jobs, but ADP doesn't.
After adding in some 24,000 government jobs created in a typical month, the ADP report suggests nonfarm payrolls grew by about 90,000 in April, a bit lower than the 100,000 currently estimated by economists surveyed by MarketWatch.
The April release marks the one-year anniversary of the ADP's public rollout. After a few big misses compared with the Labor Department figures in its first few months, the methodology for the ADP report has been tweaked and the sample size increased.
The employment report is crafted by taking anonymous payroll data for about 364,000 payrolls representing 22 million workers. The sample is matched to the Labor Department's sample of 160,000 businesses and government offices.
ADP is the one of the largest payroll providers in the world; it has more than 540,000 business clients worldwide