Analysis: Today's ADP data unlikely to shake Fed's December rate cut expectations

BlockBeatsDec 3, 2025
#Macro
On December 3, according to IFR, a media outlet under Reuters, judging from the current market positions, the possibility of the Federal Reserve cutting interest rates in December is almost certain. The ADP data and PMI data to be released today are not expected to be strong enough to prevent the Federal Reserve from cutting interest rates in December.

The number of ADP employed people in November is expected to increase by 10,000, far lower than the 42,000 in October. This month's ADP report is particularly important because the government shutdown has delayed the release of key labor market data. Previously, the ADP weekly employment report had recorded negative values for three consecutive weeks, but it is not yet clear how well these data match the actual monthly data.

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Analysis: Today's ADP data unlikely to shake Fed's December rate cut expectations

BlockBeatsDec 3, 2025
#Macro
On December 3, according to IFR, a media outlet under Reuters, judging from the current market positions, the possibility of the Federal Reserve cutting interest rates in December is almost certain. The ADP data and PMI data to be released today are not expected to be strong enough to prevent the Federal Reserve from cutting interest rates in December.

The number of ADP employed people in November is expected to increase by 10,000, far lower than the 42,000 in October. This month's ADP report is particularly important because the government shutdown has delayed the release of key labor market data. Previously, the ADP weekly employment report had recorded negative values for three consecutive weeks, but it is not yet clear how well these data match the actual monthly data.

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