ADP Data Implementation: AI Disrupts Employment Landscape, Can Non-Farm Payroll Data Alleviate Shutdown Concerns?

【ChainWen】 Recently, the bond market has been quite interesting. After the ADP employment data was released, the reaction was not very enthusiastic, but sporadic buying in the bond market still appeared. What does this reflect? AI is quietly changing the employment landscape—professional and business services are the first to be affected.

Last year was quite contradictory: government healthcare jobs remained solid as a rock, while employment in the private sector was struggling. This divergence is worth paying attention to.

The next major event is the non-farm employment report from the U.S. Bureau of Labor Statistics, to be released at 21:30 Beijing time. In theory, the shadow of a government shutdown should have dissipated, and economic data releases should gradually return to normal rhythm. But the problem is, voices about a possible government shutdown again are already floating in the market. This uncertainty has a significant impact on the market.