ADP Jobs Preview: 'U.S. Job Machine Remains In High Gear'

ADP Research will be releasing the July ADP Employment Report at 8:15 a.m. ET, with consensus expectations of a gain of 210,000 in private payrolls, according to Bloomberg News. The consensus estimates from from 190,000 to 260,000. This would be a slight weakening versus last month's ADP report showing 237,000 in payroll gains.

The ADP report, which is produced in conjunction with Moody's Analytics, is derived from ADP's actual payroll data, according to ADP. It measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.

The report is broken down by company size: small (less than 50 employees), medium (51 to 500), and large companies (greater than 500 employees).

Following last month's report, Mark Zandi, chief economist of Moody's Analytics, said on the ADP website, "The U.S. job machine remains in high gear. The current robust pace of job growth is double that needed to absorb the growth in the working age population. The only blemish in the job market is the loss of jobs in the energy sector. Most encouraging is the healthy rate of job growth among the nation's smallest companies."

The ADP report will be closely examined in front of Friday's employment number.