Wednesday, October 03, 2012

ADP: Private Employment increased 162,000 in September

by Bill McBride on 10/03/2012 08:18:00 AM

ADP reports:

Employment in the U.S. nonfarm private business sector increased by 162,000 from August to September, on a seasonally adjusted basis. The estimated gains in previous months were revised lower: the July increase was reduced by 17,000 to an increase of 156,000, while the August increase was reduced by 12,000 to an increase of 189,000

Employment in the private, service-providing sector expanded 144,000 in September, down from 175,000 in August.
This was above the consensus forecast of an increase of 140,000 private sector jobs in September. The BLS reports on Friday, and the consensus is for an increase of 113,000 payroll jobs in September, on a seasonally adjusted (SA) basis.

ADP hasn't been very useful in predicting the BLS report, but this suggests a stronger than consensus report.