ADP has released its private sector employment for the month of September, and it showed an increase of 200,000 jobs from August. The ADP National Employment Report is derived from ADP’s actual payroll data, and it is meant to measure the change in total nonfarm private employment each month. Just like the employment data from the Bureau of Labor Statistics (BLS), this is reported on a seasonally adjusted basis.
Bloomberg had the consensus estimate for the ADP report at 190,000m and Dow Jones (Wall Street Journal) was calling for 200,000 added.
By company size, small businesses (under 50) added 37,000 jobs, medium-sized businesses (under 500 employees) were up 56,000 for the month and large businesses were up by 106,000.
A breakdown of additions by sector was as follows for the month of September:
- Goods-producing, 12,000
- Construction, 35,000
- Manufacturing, -15,000
- Trade/transportation/utilities, 39,000
- Financial activities, 15,000
- Professional/business services, 29,000
This will not impact the expectations for nonfarm payrolls due Friday. Bloomberg has a 203,000 consensus estimate from the BLS data.
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