US payrolls number seen very weak-Mac.Advisers Prakken

NEW YORK, June 30 (BestGrowthStock) – Figures on Wednesday showing
the U.S. private sector added a paltry 13,000 jobs were
disappointing and are consistent with expectations for a big
drop in the upcoming non-farm payrolls report, Macroeconomic
Advisers LLC chairman Joel Prakken said.

Prakken, whose firm jointly developed the ADP Employer
Services report on private sector employment, told a
teleconference that Friday’s U.S. payrolls report from the
government was likely to result in a very weak and negative
number.

He also said the case was building for a downward revision
to forecasts for gross domestic product growth in the second
half of the year.

Stock Report

(Reporting by Burton Frierson, Editing by Chizu Nomiyama)

US payrolls number seen very weak-Mac.Advisers Prakken