Dec 9, 2019 - Economy

Private payrolls dip while government job report soars

Data: BLS, ADP; Chart: Axios Visuals

Last week's ADP private payrolls report was a serious head fake for Friday's blockbuster U.S. jobs report from the Labor Department.

Why it matters: The government's numbers deviate significantly from the trend, which likely mean the report is an outlier but it could also signal the start of a new trend.

By the numbers: The 266,000 jobs added was the second highest total this year, trailing only January's 312,000, and was in sharp contrast to the slowing trend seen for most of the year. It was also the most the two reports have diverged for all of 2019, and by a significant margin.

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