Wednesday, October 02, 2019

ADP: Private Employment increased 135,000 in September

by Calculated Risk on 10/02/2019 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.
...
“The job market has shown signs of a slowdown,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The average monthly job growth for the past three months is 145,000, down from 214,000 for the same time period last year.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Businesses have turned more cautious in their hiring. Small businesses have become especially hesitant. If businesses pull back any further, unemployment will begin to rise.”
This was below the consensus forecast for 152,000 private sector jobs added in the ADP report.

The BLS report will be released Friday, and the consensus is for 145,000 non-farm payroll jobs added in September.