Chart of the Day: The Truth Behind the Hiring Surge

On Wednesday morning, the markets were stunned… But it had nothing to do with the Fitch downgrade of U.S. debt.

It had to do with jobs.

For the second consecutive month, ADP hiring soared past expectations. Private employers added 324,000 Americans to payrolls, nearly double the 175,000 economists anticipated.

On Friday, U.S. nonfarm payrolls are expected to come in around 200,000.

In the chart above we can see there’s been some dramatic discrepancies between the two reports.

But Chief Trend Strategist Matthew Carr outlined why this is taking place recently – and what it means for the U.S. economy.