WASHINGTON (MarketWatch)Private-sector payrolls increased 91,000 in September, led by the service-producing sector and small businesses, according to the ADP employment report released Wednesday.
The August level was revised down to 89,000 from a prior estimate of 91,000.
Markets look to ADP's report on private-sector payrolls to provide some guidance on the U.S. Labor Department's jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls.
Analysts polled by MarketWatch expect Friday's Labor Department employment report to show low overall growth of 59,000 in September, compared with zero in August, and for the unemployment rate to remain at 9.1%
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WASHINGTON (MarketWatch) — For the second consecutive month, private-sector payrolls posted modest gains, led by the service-producing sector and small businesses, according to a report released Wednesday.
Automatic Data Processing /quotes/zigman/68751/quotes/nls/adp ADP +1.85% said payrolls increased 91,000 in September, compared with 89,000 in August, which marked a slight downward revision from the initial August print of 91,000. Economists had anticipated a gain of around 75,000 for September.
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By firm size, small-business employment rose 60,000 in September, compared with 36,000 for medium businesses. Large-business employment fell 5,000.
By sector, services-producing employment rose 90,000, compared with a 1,000 gain in goods-producing employment.
Markets look to ADP’s report on private-sector payrolls to provide some guidance on the U.S. Labor Department’s jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls.
Governments particularly at the state and local level are shedding jobs.
Prior to the release of the ADP report, economists polled by MarketWatch expected Friday’s Labor Department employment report to show low overall growth of 59,000 in September, which nonetheless would be an increase from zero in August. The unemployment rate is expected to remain at 9.1%. See economic calendar.
Millan Mulraine of TD Securities said the ADP report tends to overestimate payrolls during weak labor market performance and underestimate it during strong times.
Elsewhere Wednesday, outplacement consultants Challenger, Gray & Christmas reported that employers announced plans in September to cut almost 116,000 workers, the highest level since April 2009, with large planned losses by the military.
The September cuts were up 126% from the prior month, and 212% from the prior year.
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