ADP Says 209,000 Jobs Were Created in March

The big jobs report comes out on Friday but we got a sneak preview this morning when private payroll firm ADP said that 209,000 jobs were created last month. Wall Street expected ADP to say 206,000.

The market got knocked yesterday by the release of the minutes from the last Fed meeting. Traders interpreted the comments to be on the hawkish side, meaning that the Fed is growing leery of playing nursemaid to this economy. I’ve long been a skeptic that any form of QE3 will be coming.

As a result, stocks pulled back and gold dropped significantly. That trend may continue today. All eyes will be on Friday’s jobs report, but the market will be closed for Good Friday.

Posted by on April 4th, 2012 at 9:08 am


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