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Wed Oct 5, 2022, 08:36 AM

Businesses added 208,000 jobs in September, better than expected, ADP reports

Last edited Wed Oct 5, 2022, 09:19 AM - Edit history (1)

Source: CNBC

ECONOMY

Businesses added 208,000 jobs in September, better than expected, ADP reports

PUBLISHED WED, OCT 5 2022 | 8:15 AM EDT | UPDATED 38 MIN AGO

Jeff Cox
@JEFF.COX.7528 | https://facebook.com/jeff.cox.7528
@JEFFCOXCNBCCOM | https://twitter.com/JeffCoxCNBCcom

KEY POINTS
-- Businesses added 208,000 for the month, better than the 200,000 Dow Jones estimate and ahead of the upwardly revised 185,000 in August, according to ADP.
-- Trade, transportation and utilities saw a jobs gain of 147,000, while professional and business services and education and health services also posted large increases.

The U.S. labor market showed strength in September, with private companies adding more jobs than expected, payroll services firm ADP reported Wednesday. ... Businesses added 208,000 for the month, better than the 200,000 Dow Jones estimate and ahead of the upwardly revised 185,000 in August.

Those gains came even as goods-producing industries reported a loss of 29,000 positions, with manufacturing down 13,000 and natural resources and mining losing 16,000. ... However, a big jump in trade, transportation and utilities helped offset those losses, as the sector saw a jobs gain of 147,000. ... Professional and business services added 57,000, while education and health services picked up 38,000 and leisure and hospitality grew by 31,000. There also were losers within the services sector, as information declined by 19,000 and financial activities saw a loss of 16,000 positions.

{snip}

The tight job market saw another month of sizeable pay hikes, with annual pay trending up 7.8% from a year ago, according to ADP, which compiles the report in tandem with the Stanford Digital Economy Lab. Those changing jobs saw a median change in annual pay of 15.7%, down from 16.2% in August for the biggest monthly drop in the three years ADP has been tracking the data.

ADPs report comes two days before the closely watched nonfarm payrolls report issued by the Bureau of Labor Statistics. ... The estimate for the Friday report is growth of 275,000 jobs. Though ADP revised its methodology over the summer, the August total, which was revised up sharply from the originally reported 132,000, was still well shy of the BLS count of 315,000 added jobs.

{snip}

Read more: https://www.cnbc.com/2022/10/05/adp-jobs-report-september-2022.html

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Reply Businesses added 208,000 jobs in September, better than expected, ADP reports (Original post)
mahatmakanejeeves Oct 5 OP
mahatmakanejeeves Oct 5 #1
yaesu Oct 5 #2
live love laugh Oct 5 #3
mathematic Oct 5 #4

Response to mahatmakanejeeves (Original post)

Wed Oct 5, 2022, 08:54 AM

1. Links to earlier reports:

Wed Oct 5, 2022: Links to earlier reports: (this one)

Fri Sep 2, 2022: Links to earlier reports:

Wed Aug 31, 2022: Links to earlier reports:

Fri Aug 5, 2022: Links to earlier reports:

Wed Aug 3, 2022: ADP has suspended its report until September.

Fri Jul 8, 2022: Links to earlier reports:

Wed Jul 6, 2022: ADP has suspended its report until September.

Fri Jun 3, 2022: Links to earlier reports:

Wed Jun 1, 2022: Links to earlier reports:

Fri May 6, 2022: Links to earlier reports

Wed May 4, 2022: Links to earlier reports:

Fri Apr 1, 2022: Links to earlier reports:

Wed Mar 30, 2022: Links to earlier reports:

Fri Mar 4, 2022: Links to earlier reports:

Wed Mar 2, 2022: Links to earlier reports:

Fri Feb 4, 2022: Links to earlier reports:

Wed Feb 2, 2022: Links to earlier reports:

Wed Jan 12, 2022: Links to earlier reports:

Wed Jan 5, 2022: Links to earlier reports:

Sat Dec 4, 2021: Links to earlier reports:

Wed Dec 1, 2021: Links to additional earlier reports:

Fri Nov 5, 2021: (I had to split the links into two posts, due to "Forbidden 403" issues)

Links to earlier reports:

Links to additional earlier reports:

Wed Nov 3, 2021: Links to earlier reports:

Fri Oct 8, 2021: Links to earlier reports:

Wed Oct 6, 2021: Links to earlier reports:

Fri Sep 3, 2021: Links to earlier reports:

Thu Sep 2, 2021 (in the Friday, August 6, BLS thread): Links to earlier reports:

Wed Aug 4, 2021: Links to earlier reports:

-- -- -- -- -- --

[center]Past Performance is Not a Guarantee of Future Results.[/center]

ADP[sup][/sup] (Automatic Data Processing), for employment in September 2022 (this one):

Businesses added 208,000 jobs in September, better than expected, ADP reports

Bureau of Labor Statistics, for employment in August 2022:

August jobs report: U.S. payrolls grew by 315,000 last month

ADP[sup][/sup] (Automatic Data Processing), for employment in August 2022:

Private payrolls grew by just 132,000 in August, ADP says in reworked jobs report

Bureau of Labor Statistics, for employment in July 2022:

Employers added 528,000 jobs in July, as the hot labor market powers on

ADP[sup][/sup] (Automatic Data Processing), for employment in July 2022:

ADP has suspended its report until September.

Bureau of Labor Statistics, for employment in June 2022:

June jobs report: Payrolls rise by 372,000 as unemployment holds at 3.6%

ADP[sup][/sup] (Automatic Data Processing), for employment in June 2022:

ADP has suspended its report until September.

Bureau of Labor Statistics, for employment in May 2022:

May jobs report: Payrolls rise by 390,000 as unemployment holds at 3.6%

ADP[sup][/sup] (Automatic Data Processing), for employment in May 2022:

U.S. Treasury yields fall as data show slowest job growth in pandemic recovery

Bureau of Labor Statistics, for employment in April 2022:

April jobs report: Payrolls rise by 428,000 as unemployment rate holds at 3.6%

[ADP[sup][/sup] (Automatic Data Processing), for employment in April 2022:

U.S. Companies Added 247,000 Jobs in April, ADP Data Show

Bureau of Labor Statistics, for employment in March 2022:

U.S. economy adds 431,000 jobs in March

ADP[sup][/sup] (Automatic Data Processing), for employment in March 2022:

Private payrolls rose by 455,000 in March, topping expectations: ADP

Bureau of Labor Statistics, for employment in February 2022:

February jobs report: Payrolls rise by 678,000 as unemployment rate falls to 3.8%

ADP[sup][/sup] (Automatic Data Processing), for employment in February 2022:

Private payrolls rose by 475,000 in February, topping expectations: ADP

Bureau of Labor Statistics, for employment in January 2022:

January jobs report: Payrolls jump by 467,000 as unemployment rate rises to 4.0%

ADP[sup][/sup] (Automatic Data Processing), for employment in January 2022:

Companies unexpectedly cut 301,000 jobs in January as omicron slams jobs market, ADP says

Bureau of Labor Statistics, for employment in December 2021:

December jobs report: Payrolls rise by 199,000 as unemployment rate falls to 3.9%

ADP[sup][/sup] (Automatic Data Processing), for employment in December 2021:

December private payrolls rose by 807,000, far exceeding expectations: ADP

Bureau of Labor Statistics, for employment in November 2021:

U.S. economy adds just 210,000 jobs in November

ADP[sup][/sup] (Automatic Data Processing), for employment in November 2021:

November private payrolls rose by 534,000 topping expectations: ADP

Nonetheless, what is important is not this month's results, but the trend. Lets look at some earlier numbers:

ADP[sup][/sup] (Automatic Data Processing), for employment in November 2021:

November private payrolls rose by 534,000 topping expectations: ADP

Bureau of Labor Statistics, for employment in October 2021:

October jobs report: Payrolls grew by 531,000 as unemployment rate fell to 4.6%

ADP[sup][/sup] (Automatic Data Processing), for employment in October 2021:

October private payrolls rose by 571,000, topping expectations: ADP

Bureau of Labor Statistics, for employment in September 2021:

Yahoo Finance September jobs report: Economy adds back disappointing 194,000 jobs, unemployment rate

ADP[sup][/sup] (Automatic Data Processing), for employment in September 2021

September private payrolls rose by 568,000, topping estimates: ADP

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Response to mahatmakanejeeves (Original post)

Wed Oct 5, 2022, 09:25 AM

2. The economy killing Fed banksters will not like this at all. nt

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Response to mahatmakanejeeves (Original post)

Wed Oct 5, 2022, 09:33 AM

3. That won't continue with Powell's relentless interest rate hikes.

Hes vowing to keep at it through 25.

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Response to live love laugh (Reply #3)

Wed Oct 5, 2022, 10:17 AM

4. This is wrong and you're spreading misinformation

The Fed expects to be done raising rates early next year and they expect to cut rates in '24.

It's right here in this report: https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20220921.pdf

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