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‘Job Growth Has Throttled Way Back’: ADP Beats, But September Revised Lower
ADP employment beat estimates on Wednesday, setting the stage for a pivotal October payrolls report later this week.
Private-sector employment increased by 125,000 from September to October, ADP said Wednesday.
That's better than the 110k consensus was looking for. The range was 40k to 190k from three-dozen economists.
September's report was revised sharply lower by -42k to 93k.
The goods-producing sector shed 13,000 jobs this month, while service providers added 138,000.
“While job gro
