Today, it sparked a selloff.
The private sector added 497,000 jobs in June.
That was well above the gain of 220,000 forecast by economists polled by The Wall Street Journal.
The ADP report has shown smaller employment gains than the Labor Department's non-farm payroll data over the past several months, said Nadia Lovell, senior U.S. equity strategist for global wealth management at UBS.
The government’s jobs data for June is due tomorrow morning.
Persons:
Nadia Lovell
Organizations:
Wall Street, Labor, UBS