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Uh-Oh: Job-Switcher Pay Explodes Higher In Hot ADP Report
US private sector employers added 184,000 jobs in March, far more than expected, ADP said Wednesday.
The release, a tantalizing amuse-bouche ahead of NFP on Friday, suggested the US labor market's still plenty firm. That's either good news or bad news depending on how wedded you were to a June rate cut from the Fed.
Consensus was looking for 150,000 from the ADP print which, I should note, isn't necessarily a reliable predictor of private hiring in the government's report.
March's headline
