Quotes from Capital Economics:
- The 213,000 rise in the ADP’s measure of US private payroll employment in September, up from 202,000 in August, supports our view that the disappointing 142,000 gain in official payrolls last month was just a blip. We are sticking to our forecast that official payrolls rose by around 225,000 in September (data due on Friday).
- The ADP survey is by no means a perfect predicator of official payrolls and we are reluctant to place much weight on it. Nonetheless, monthly gains in payrolls of more than 200,000 are consistent with the recent strength of the activity data and the fall in the number of initial jobless claims to a 14-year low. As such, all the evidence suggests that the slowdown in official payrolls in August was just temporary.
- We expect that the release of September’s employment report on Friday will reveal that employment is still rising at a healthy clip of around 225,000 a month.
Published: 2014-10-01 17:38:00 UTC+00
Us Adp Survey Bodes Well for Sept Payrolls
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