July 25 | The Chief Economist on GlobeSt

Reading the Job Market: A Technical Note on the ADP and BLS Reports | As fundamentals and transaction values pull further away from underlying job growth trends, it becomes increasingly important for commercial real estate market participants to keep tabs on the latter. With July’s Bureau of Labor Statistics report less than two weeks away, Sam Chandan offers a technical assessment of alternative metrics. While the ADP report is well-correlated with the BLS data over time, there is considerable noise in the measure's month-to-month relationship to the official jobs tally.

Read the complete analysis at the GlobeSt column, A Technical Note on the ADP and BLS Reports.