May jobs report
The ADP employment report and the US non-farm payroll report are the two key jobs reports, and they offer investors insight into the condition of the US economy. The ADP employment report and the US non-farm payroll report for May came out on June 6 and June 1, respectively.
Impact on the economy and market
The US jobs report plays an important role in market movement. The May non-farm payroll report and the ADP employment report indicated a huge improvement in the US labor market. The US economy is already showing strength, and the stronger improvement in the labor market is adding further strength to the US economy.
Major US indexes such as the S&P 500 Index (SPY), the Dow Jones Industrial Average Index (DIA), and the NASDAQ Composite Index (QQQ) reacted positively to the US non-farm payroll report. These indexes rose 1%, 0.89%, and 1.5%, respectively, on June 1.
Going forward in this series, we’ll analyze the performance of the US ADP employment report and the US non-farm payroll report for May in more detail.