ADP said it's going to halt the release of its private-sector employment report as it retools the report to make it"a more robust, high-frequency view of the labor market and trajectory of economic growth.
" The report has been criticized for not being a good predictor of what the Labor Department reports in its employment report that is typically issued two days after the ADP survey. ADP says it's targeted August 31, 2022 to reintroduce the new ADP National Employment Report and said it will work with the Stanford Digital Economy Lab on the project.
Interesting timing, just as layoffs and job postings are tanking.
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