While the ADP figure can be wildly out of sync with the all-important Labor Department monthly jobs report due out Friday, it cemented the worries analysts already were feeling.
Diane Swonk of Grant Thornton expects a gain of just 750,000, while Lydia Boussour of Oxford Economics is even more pessimistic, forecasting a decline of 280,000. But the July data, which like every month is collected in the week that includes the 12th day of the month, will reflect the period when cases were on the rise in many states which may have eroded some gains.
"I do think you could see some flattering in these numbers on Friday just because of the timing of when this data was collected," Joel Prakken of IHS Markit told AFP, acknowledging that the concern"you might even see a negative number".Another danger is building that could further jeopardise Mr Trump's re-election bid in November: small businesses that are major sources of new jobs are shutting down at a rapid pace.
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