BDBoop
Platinum Member
- Banned
- #1
"The job market appears to have softened in recent months. Fiscal austerity has begun to take a toll on job creation. The run-up in interest rates may also be doing some damage to jobs in the financial services industry. While job growth has slowed, there remains a general resilience in the market. Job creation continues to be consistent with a slowly declining unemployment rate."
166,000 Jobs Added In September, Survey Says : The Two-Way : NPR
U.S. Businesses Add 166,000 Jobs, ADP Report Shows - WSJ.com
The ADP estimate is typically released ahead of the Bureau of Labor Statistics' employment-situation report on the following Friday. But the federal government shutdown has likely delayed the release of the September payrolls report.
In a survey taken before the shutdown, economists expected September nonfarm payrolls to increase 181,000 and the jobless rate to hold at 7.3%. The BLS data include government workers; the ADP numbers don't.
The general tone of the ADP report indicates hiring by the private sector eased last month, perhaps limited by worries about the federal budget standoff and rising interest rates.
According to ADP, firms employing between one and 49 workers increased payrolls by 74,000 in September. Medium-sized businesses with payrolls of between 50 and 499 workers added 28,000 employees. Large firms, businesses with 500 or more employees, hired 64,000 workers.
Looking as well as can be expected, given the 'fiscal austerity' situation.