ADP Employment Change Misses Estimates, Comes In At 55K Vs 70K Expected, Declines From Revised April

The ADP May report missed expectations of a 70k increase in private payrolls, coming in at 55k. The number is also a 19k decline from a revised April number which was increased from to 32k to 65k. None of this worries those in the administration who keep leaking the 700,000+ NPF due out tomorrow, based on practically no new hires.