In keeping with expectations.
Determine 1: Nonfarm payroll employment (black), civilian employment adjusted to nonfarm payroll idea (tan), Quarterly Census of Employment and Wages complete employment (inexperienced), and personal nonfarm payroll employment (pink), all in logs 2021M12=0. Supply: BLS through FRED, BLS, BLS, and creator’s calculations.
Word that the change in personal NFP undershot expectations barely, in addition to that predicted by ADP personal NFP.
Determine 2: BLS nonfarm payroll employment sebries (black), and predicted (gentle blue), +/- 1 std error (grey strains), and Bloomberg consensus of 4/6, all s.a. Supply: BLS (February, March releases), ADP through FRED, Bloomberg and creator’s calculations.