In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Wednesday, October 04, 2023

ADP: Private Employment Increased 89,000 in September

by Calculated Risk on 10/04/2023 08:19:00 AM

From ADP: ADP National Employment Report: Private Sector Employment Increased by 89,000 Jobs in September; Annual Pay was Up 5.9%

Private sector employment increased by 89,000 jobs in September and annual pay was up 5.9 percent year-over-year, according to the September ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).
“We are seeing a steepening decline in jobs this month,” said Nela Richardson, chief economist ADP. “Additionally, we are seeing a steady decline in wages in the past 12 months.”
emphasis added
This was below the consensus forecast of 150,000. The BLS report will be released Friday, and the consensus is for 150 thousand non-farm payroll jobs added in September.