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progree

(13,029 posts)
18. What's considered the official jobs report comes out in 3 hours, 830 AM ET
Fri Jul 7, 2023, 05:51 AM
Jul 2023

This is the one by the Bureau of Labor Statistics (BLS) that also includes the headline unemployment rate. (And thousands of other statistics, such as the labor force participation rate, part time employment, and the underemployment rate U-6)

At 830 AM ET, this will have today's BLS jobs report; until then, it's the old May jobs report. https://www.bls.gov/news.release/empsit.nr0.htm

The ADP report in the OP is something that comes out 1-2 days (usually 2 days) before the official BLS report. ADP does payrolls for about 20% of payroll employees. The other 80% is estimated using far less information than what the BLS collects. I don't know of any economist or even pundit that considers the ADP payroll jobs report anything more than the ADP payroll jobs report.

The ADP and BLS reports often differ from each other by a few 100,000's, with the differences being in both directions.

Just so nobody is surprised when today's BLS jobs report comes out in 3 hours, or that the figure is considerably different than ADP's (if it is).

Edited to add: Look in Latest Breaking News within a few minutes after 830 AM ET for the BLS jobs report -- somebody (usually BumRushDaShow) almost always posts something as soon as something shows up in the media.

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