ADP Employment
Tomorrow has several events scheduled that we will be watching. It will start with the first of two morning economic reports being released. That will be the March ADP Employment report at 8:15 AM ET that estimates the number of new private-sector jobs added to the economy. As with any employment-related data, it will draw some attention, but many people feel this report is given more than it really deserves. Some people try to use it to predict the monthly government figures that follow a couple of days later, usually without success. Still, if it shows a noticeable variance from expectations, it will likely cause movement in the markets and mortgage rates. Forecasts are calling for it to show 120,000 new private-sector payrolls. Good news for rates would be a much smaller number.