U.S. private payrolls growth accelerated in September, the ADP National Employment Report showed on Wednesday.
Private employment rose by 90,000 jobs this month after a downwardly revised 36,000 in August. Economists polled by Reuters had forecast private employment increased by 70,000 after a previously reported 38,000 advance in August.
The ADP report is jointly developed with the Stanford Digital Economy Lab, and was published ahead of the Bureau of Labor Statistics’ more comprehensive and closely watched employment report for September on Friday.
ADP has been a poor gauge of the BLS’ private payrolls estimate. The BLS reported on Tuesday that there were 1.01 open jobs for every unemployed person in August, slightly down from 1.06 in July. Economists view the labor market as stable.
The BLS is likely to report that private payrolls increased by 85,000 jobs in September after surging 127,000 in August, according to a Reuters survey of economists. Nonfarm payrolls are expected to have advanced by 90,000 jobs after accelerating 162,000 in August.
The unemployment rate is forecast holding steady at 4.1% for a third straight month, though risks are tilted to the upside. A Conference Board survey on Tuesday showed a deterioration in consumers’ perceptions of the labor market in September.
(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)
