Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate – #stocks chatter

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Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate
https://www.cnbc.com/2021/08/04/private-companies-added-330000-jobs-in-july-according-to-adp-far-short-of-the-653000-estimate.html

>The ADP count, done in conjunction with Moody’s Analytics, comes two days before the more closely watched Labor Department nonfarm payrolls release. The two reports can differ significantly but have been fairly close this year: Through June, ADP had averaged about 30,000 fewer jobs a month than the official government tally.

My Take:

If the employment number, which comes in before the market opens on Friday, is inline with this survey, then this should lower the risk of the Fed beginning its tapering of bond purchases.
https://www.reddit.com/r/StockMarket/comments/oxtkwx/private_companies_added_330000_jobs_in_july/

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