The ADP National Employment Report indicates that the U.S, private sector added 110,000 jobs in September to beat expectations. The report also revised total job gains for the month to a total increase of 116,000 from the previously reported 91,000.
“It is not a huge amount better, but the fact that it was better than expected and there was a revision in the last month’s number is a pretty encouraging sign,” said Peter Jankovskis, co-chief investment officer at Oakbrook Investments LLC in Lisle, Illinois.
The ADP figures come ahead of the government’s much more comprehensive labor market report on Friday, which includes both public and private sector employment.
Source: Reuters
