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ADP Index provides changes in the number of employed people in recent month excluding farming sector and public sector workers.
Automatic Data Processing (ADP) is one of leading data providers in the USA, which renders payroll services. By present, ADP processes about 500 000 payrolls, about 430 000 enterprises, upon that, embracing more than 24 mln of people in all major industrial branches. Monthly ADP collects immense amount of information related to employment and wages and besides published employment reports. Macroeconomic Advisers LLC and ADP concluded the agreement with the purpose of creating and supporting more tools for evaluating employment, including non-farm sector.
In October 2012 ADP Index declared about reconsidering of collection methods of employment data.
Measurement
Employment report of ADP is based on payroll information and its structure is similar to monthly employment review regarding official estimation of creating working positions by the Bureau of Labor Statistics.
Index is calculated from May 2006. Methodology was altered in 2007 and as well in February and December of 2008 to better correlate with the governmental report. Adjusted methodology looks up for spheres of activity going to reconsider the number of working positions soon.
According to new data, employment is divided into five categories depending on scale of enterprise and number of employees. Many economists criticize ADP for discrepancies of its report with official data of the Bureau of Labor.
Significance
Creation of working places serves as important anticipating indicator.
Often respond of financial markets to publication of the index is strong enough, because employment can bode for possible changes in monetary policy. Regular report on employment in private sector is perhaps the most correctly traced figure of economic statistics for private sector.
If the index value is above expectations, currency starts growing.
Publication
The first Wednesday of month, on completion of every month, at 2:15 p.m
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