The median forecast of market economists surveyed by Bloomberg is that the report will estimate private-sector firms hired 185,000 workers in January, down from ADP's 238,000 December estimate.
"As the market looks toward Friday's official employment report, today's ADP estimate will again take on some importance as investors attempt to gauge the tone of labor market activity and position ahead of the payrolls release," says Millan Mulraine, deputy head of U.S. research and strategy at TD Securities.
"Admittedly, the enthusiasm with which this report is received by the markets will likely be colored by its recent poor performance in predicting the payrolls outcome. Notwithstanding this, given that the ADP estimate remains the only available indicator of its kind, it will continue to attract considerable attention by the market."
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