After ADP, Markets Expect Lower Consensus for Nonfarm Payrolls

Economists appear to be unanimous in their calls for increased downside risk to Thursday's BLS nonfarm payrolls report, following a weaker-than-expected ADP private employment report for June. ADP figures showed a decline of 79k jobs in the month against expectations of only a 20k loss following three months of upside surprises. "Expect a weak official report tomorrow," added Ian Shepherdson, chief U.S. economist at HFE, who called the previous month's 15k downward revision "grim." Read More Now