Cramer Quick Take: ADP Report Is Irrelevant
NEW YORK (TheStreet) -- Investors thinking about trading on the latest ADP (ADP) payroll numbers need to think again.Jim Cramer told Debra Borchardt at TheStreet.com Wednesday the ADP reports are totally irrelevant in today's market.
According to Cramer, if the Labor Department didn't release the actual job statistics, only then would estimates like ADP's be relevant. But since the hard data will be coming on Friday, those are the only numbers investors should care about.He said ADP has never publicly stated why its numbers don't match more closely those of the Labor Department, and therefore they have no predictive value whatsoever.
Watch the full Cramer interview here.
--Written by Scott Rutt in Washington, D.C.
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