by Bill McBride on 11/02/2016 08:20:00 AM
Wednesday, November 02, 2016
Private sector employment increased by 147,000 jobs from September to October according to the October ADP National Employment Report®. ... The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.This was below the consensus forecast for 170,000 private sector jobs added in the ADP report.
Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth remains strong although the pace of growth appears to be slowing. Behind the slowdown is businesses’ difficulty filling open positions. However, there is some weakness in construction, education and mining."
The BLS report for October will be released Friday, and the consensus is for 178,000 non-farm payroll jobs added in October.
Posted by Bill McBride on 11/02/2016 08:20:00 AM