Skip to Navigation Skip to Posts Skip to Content
🇺🇸 ADP's April miss isn't the worry. The mid-market hiring squeeze is.
The day in view

🇺🇸 ADP's April miss isn't the worry. The mid-market hiring squeeze is.

Macro Soup Newsroom Macro Soup Newsroom 3 min read

Private payrolls came in at 109,000 in April per ADP, missing the 118,000 consensus, as mid-market firms pull back on hiring. JOLTS hires hit a two-year high at 5.55M. Friday's NFP will settle which signal is right.

Bar chart titled U.S. ADP Nonfarm Employment Change showing monthly bars from 2023 to 2026 with a data table listing April 2026 actual 109K, forecast 118K, and previous 61K.
US private-sector payrolls rose by 109,000 in April, below the 118,000 forecast but up from the revised 61,000 in March. Source

Read next

Featured Post The week in view

📰 Weekly Macro Roundup: 2026-05-30

3 min read
Paid Post The week in view

🇨🇳 China's industrial profits are at a 30-month high. Retail sales are at a 40-month low.

4 min read

Become a Member

Daily and weekly briefings on global markets, for self-directed investors who want to be informed, not doomscrolled.

Sign up now

Daily macro and markets briefings for self-directed investors. Global coverage, no doomscrolling.

© 2026 Macro Soup - Macro Soup is an independent publisher of financial news and research. The information provided in this website (the "Content") is general, impersonal, and for informational and educational purposes only. It does not constitute investment, financial, tax, or legal advice, nor a recommendation, offer, or solicitation to buy, sell, or hold any security or investment. Macro Soup has no regard for any recipient's specific investment objectives, financial situation, or needs. Investing involves substantial risks, including possible loss of principal, and past performance is not indicative of future results. You should consult your own advisors before making investment decisions and should double check all Content before you rely on it. Please review the full Disclaimer.