Forex News Challenger Job Cuts to be announced at 7:30 AM. ADP Employment Change due at 8:15 AM.

Written January 7, 2009 at 7:22 AM EST by  

The Challenger Job cuts for December will be released at 7:30 AM.  Last month they showed that the announced job cuts were 148.4% higher than last year.  There is no estimate for this month although one can imagine that the number will once again be on the high side.

Later at 8:15 AM the ADP Employment Change for the month of December will be released.  ADP has revised their methodology to more accurately reflect the BLS Non Farm Payroll figures (wasn’t that they were doing in the first place).  As a result, the prior months were all revised and the hope is that this month will more correctly estimate what willl be released on Friday from the data that the ADP has on employment.  The expectation for this release is for a 493K decline in jobs.  The NFP is estimated to come in at -500K. 

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