Non-Farm Payrolls Data

Employment figures are below expectations,
but employment is better than last month,
however, it has not reversed the overall downward trend in employment.

Keep in mind, this is December's non-farm employment data, after three interest rate cuts from September to December.

The data is compiled by ADP, a human resources management and payroll processing company established in 1949, which is not affected by government shutdowns.

Overall, it’s not particularly positive, but there are definitely no negative signals.

We will look at the official Labor Department data tomorrow.