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Response to IronLionZion (Reply #6)

Fri Apr 2, 2021, 10:28 AM

10. ADP handles about 20% of payrolls. As for how they estimate the other 80%, I have no idea

but they do somehow. Over time, on average, the ADP and the BLS roughly match, though for any given month they can be way different sometimes -- I think MahatmaKaneJeeves occasionally posts something that includes a graph of ADP and the BLS private sector jobs numbers.

Jerome Powell Fed Chair at the time:

"Several years ago, we began a collaboration with the payroll processing firm ADP to construct a measure of payroll employment from their data set, which covers about 20 percent of the nation's private workforce" - Jerome Powell, 10/18/19

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