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Thursday, September 05, 2013

ADP: Private Employment increased 176,000 in August

by Calculated Risk on 9/05/2013 08:18:00 AM

From ADP:

Private sector employment increased by 176,000 jobs from July to August, according to the August ADP National Employment Report®. ... July’s job gain was revised down slightly from 200,000 to 198,000.
Mark Zandi, chief economist of Moody’s Analytics, said, "It is steady as she goes in the job market. Job gains in August were consistent with increases experienced over the past two-plus years."
This was at the consensus forecast for 177,000 private sector jobs added in the ADP report. Note:  The BLS reports on Friday, and the consensus is for an increase of 175,000 payroll jobs in August, on a seasonally adjusted (SA) basis.

Note: ADP hasn't been very useful in predicting the BLS report.