ADP Employment Negative In September; Down 39,000

October 6th, 2010 by Belisarius

(For September 2010)

ADP Employment fell 39,000 in September vs. revised (up 20,000) gain of 10,000 in August. Consensus was at +20,000. Nonfarm payrolls on Friday (rule of thumb) will be negative, probably missing -54.000 consensus. Unemployment will rise.

Chart 1. ADP Employment


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