Wednesday, October 05, 2011

ADP: Private Employment increased 91,000 in September

by Bill McBride on 10/05/2011 08:15:00 AM

ADP reports:

According to today’s ADP National Employment Report, employment in the nonfarm private business sector rose 91,000 from August to September on a seasonally adjusted basis. Employment in the private, service-providing sector rose 90,000 in September, up slightly from an increase of 83,000 in August. Employment in the private, goods-producing sector rose a scant 1,000 in September, while manufacturing employment declined by 5,000.

“Like August, this month’s jobs report continues to show modest job creation,” said Gary C. Butler, Chief Executive Officer of ADP. “The number of jobs added to the private sector in August and September were virtually identical."
Note: ADP is private nonfarm employment only (no government jobs).

This was slightly above the consensus forecast of an increase of 90,000 private sector jobs in September. The BLS reports on Friday, and the consensus is for an increase of 65,000 payroll jobs in September, on a seasonally adjusted (SA) basis.

Of course the ADP report has not been very useful in predicting the BLS report.