Pay Growth For Job Switchers Accelerates In Otherwise Bland ADP Release
Private sector US employers added 140,000 jobs in February, ADP said Wednesday.
The headline was remarkable for being mostly congruent with consensus, which expected 150,000. No surprises here. If no news is good news, then ADP was good news.
The range of guesses from two-dozen people who're wasting math skills that could be put to better use virtually anywhere else, was 75,000 to 200,000.
January's headline was revised to show a 111,000 gain. The three-month moving average is now 136,333.
My daughter (financial analyst) changed jobs twice in the past year and increased her pay by 30%. The second switch was back to the same company she had worked for before the first switch. š
Iām expecting the jobs report Friday to come in hot and driven rates up. Too much easing for robust growth not to continue.