The non-farm payroll data

The number of jobs is lower than expected,

but the number of jobs is better than last month,

but, it still hasn't reversed the overall trend of declining employment.

It's important to know that this is the non-farm payroll number for December, data after three rate cuts from September to December.

The data is compiled by ADP, a human resources management and payroll processing service company established in 1949, which is not affected by the government shutdown.

Overall, it's not particularly favorable, but there is definitely no negative impact.

Let's look at the official data from the Department of Labor tomorrow.