by Bill McBride on 9/01/2010 08:15:00 AM
Wednesday, September 01, 2010
Private sector employment decreased by 10,000 from July to August on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated change of employment from June to July was revised down slightly, from the previously reported increase of 42,000 to an increase of 37,000.Note: ADP is private nonfarm employment only (no government jobs).
The decline in private employment in August confirms a pause in the recovery already evident in other economic data.
Unlike the estimate of total establishment employment to be released on Friday by the Bureau of Labor Statistics (BLS), today’s figure does not include the effects of federal hiring — and now firing — for the 2010 Census.
The consensus was for ADP to show an increase of about 20,000 private sector jobs in August, so this was below consensus.
The BLS reports on Friday, and the consensus is for a decrease of 90,000 payroll jobs in August, on a seasonally adjusted (SA) basis, with the loss of around 116,000 temporary Census 2010 jobs (+26,000 ex-Census).
Posted by Bill McBride on 9/01/2010 08:15:00 AM