Archive for the ‘Macroeconomic Advisors’ tag
Economist Calls U.S. ADP Employment Report "Grossly Over-Optimistic"
Following the release of the ADP private employment
report on Wednesday, which posted a gain of 9k jobs in July,
economists dismissed the figures as overly optimistic
and predicted they won’t be reflected in the BLS nonfarm payrolls survey
on Friday.
Speaking on CNBC, Joel Prakken, chairman of Macroeconomic Advisors and
spokesperson for the report, characterized the figures as a “weak
report,” while the report emphasized…