Wednesday, October 6, 2010

ADP Employment Rolling Over

Marketwatch details:

Employment in the U.S. private sector fell by 39,000 in September, the first drop since January, according to the ADP employment report released Wednesday. The drop surprised economists who had on average anticipated a 20,000 increase. U.S. stock futures pointed to a flat start on Wall Street after the report’s release. The ADP report suggests September nonfarm payrolls may shrink by more than the 8,000 anticipated by economists ahead of the report.
Below is the rolling three month change in goods producing and service providing jobs. As can be seen the rebound in service providing jobs is stalling and the decline in goods-producing jobs may be re-accelerating.

Source: ADP