[Goldman Sachs: ADP Employment Data Disappointing but Non-Farm Forecast Remains Unchanged] On July 2, Goldman Sachs pointed out in a report that the ADP report showed a decrease of 33,000 jobs in the private sector in the U.S. for June, significantly below expectations, while employment numbers for May were also revised downward. However, we do not place much importance on the ADP data being below expectations, as the correlation between ADP and the U.S. Bureau of Labor Statistics (BLS) private sector employment numbers has been limited in recent years. We maintain our forecast for the non-farm employment growth number for June unchanged at a rise of 85,000, while the market consensus expects a rise of 110,000.