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ECON: ADP Employment Weaker Than Expected
Posted to: Micro News
Wednesday, October 02, 2013 8:25 AM
- ADP Payrolls +166k vs +180k forecast
- Last month revist from 176k to 159k
- Market Reaction: Bond markets rallied immediately, but thus far it's been somewhat underwhelming.
Private sector employment increased by 166,000 jobs from August to September, according to the September ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. August’s job gain was revised down from 176,000 to 159,000.
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