Wednesday, October 04, 2017

ADP: Private Employment increased 135,000 in September

by Bill McBride on 10/04/2017 08:19:00 AM

From ADP:

Private sector employment increased by 135,000 jobs from August to September according to the September 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.
...
“In September, small businesses experienced a dip in hiring,” said Ahu Yildirmaz, vice president and cohead of the ADP Research Institute. “This is in part due to Hurricane’s Harvey and Irma which significantly impacted smaller retailers. “In addition, the continued slow down we have seen in small business hiring could be due to a lack of competitive compensation to attract skilled talent.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Hurricanes Harvey and Irma hurt the job market in September. Looking through the storms the job market remains sturdy and strong.”
This was below the consensus forecast for 150,000 private sector jobs added in the ADP report. 

The BLS report for September will be released Friday, and the consensus is for 95,000 non-farm payroll jobs added in September.