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ECON: ADP Employment Weaker Than Expected, Sept Revised Lower
Posted to: Micro News
Wednesday, October 30, 2013 8:30 AM
- Private payrolls 130k vs 150k forecast
- Previous reports revised down to 145k from 166k
- Smallest increase since April
- Market Reaction: Bond markets add to gains but hit resistance
Private sector employment increased by 130,000 jobs from September to October, according to the October 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. September’s job gain was revised down from 166,000 to 145,000.
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