ADP National Employment Report of the United States is scheduled to release today. In the economy, ADP Research Institute's private job count may still have a material impact on market expectations heading into the BLS' October report.
Fall in initial and continuing jobless claims between establishment survey periods, along with a corresponding improvement in the Arouba-Diebold-Scotti Business Conditions Index, suggest that private employers probably added 230K net new positions last month - the strongest job creation since June, says Societe Generale.
The composition of the expected gain will be very interesting in the upcoming report. Large entities employing at least 500 workers added 106K jobs in September, well above the 35K positions created on average over the prior 12 months. Small (less than 50 workers) and medium-sized (50 to 499 employees) concerns - the drivers of private employment growth since the end of the Great Recession - expanded their payrolls by just 96K in September - the smallest job gain since August 2012.
Commentary
U.S. private hiring likely accelerated in October
ADP National Employment Report of the United States is scheduled to release today. In the economy, ADP Research Institute's private job count may still have a material impact on market expectations heading into the BLS' …
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