Tepid Jobs Report Better Than Expected: Employers Added 162,000 Jobs In September

ADP jobs report

NEW YORK, Oct 3 (Reuters) - U.S. private employers added 162,000 jobs in September, topping economists' expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 143,000 jobs. August's private payrolls were revised down to an increase of 189,000 from the previously reported 201,000.

While the numbers were a bit better than expected, it still was a drop from August, when ADP said private employers added 189,000 jobs, notes CNNMoney. The ADP report, while watched closely, sometimes diverges from what the federal government reports in its official monthly job report. That report includes the public sector and is due on Friday.

Today's report is "consistent with a moderate pace of job growth and we still haven't made much headway with the losses during the downturn," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. "We would like to see growth on the order of 200,000 to 250,000."

CNNMoney reports that in its survey of economists, economists predicted that Friday's labor report would show 110,000 jobs were added in September, after accounting for 11,000 government job cuts.

The report is jointly developed with Macroeconomic Advisers LLC.

"This is consistent with a moderate pace of job growth and we still haven't made much headway with the losses during the downturn," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

"We would like to see growth on the order of 200,000 to 250,000."

U.S. stock index futures added to gains immediately after the data, while the dollar edged higher against the yen.

The ADP figures come ahead of the government's much more comprehensive labor market report for September due on Friday, which includes both public and private sector employment.

That report is expected to show job growth improved slightly, with employers adding 113,000 jobs. Private payrolls are seen rising by 130,000.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.

AOL Jobs contributed to this report.



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octanehi5

This Is what you want to vote for president on,not someone's lies. this poll takes into it the number that was lost..162,000 looks like a positive job market to me. Tony's post below,You need to read things as they were back then, Bush was the worst Pres this country has ever seen. He started with a surplus of money and came out with a big deficet and two unfunded wars And you blame Obama, because now we have to pay for those mistakes.You and anyone else that believes in Romney's BS, He flip floped again last nght,Get a Brain

October 04 2012 at 10:21 AM Report abuse +1 rate up rate down Reply
Carol

I'd like to thank President Obama for not falling into Romney's trap and lowering his standards on stage to the bottomless pit that Romney lives in. I don't know what Romney was on last night but he looked like a rabid hyena in heat.

October 04 2012 at 4:46 AM Report abuse rate up rate down Reply
STEVE

Obama has created 5 million jobs last 3 years & got us out of Bush's big recession , in spite of republicans
obstructing , but we have have 2 million more jobs if republicans hadn't blocked Obama's jobs bill last year.
Bush's recession was the worst one since depression in 30's , so it takes awhile for full recovery.

October 04 2012 at 2:05 AM Report abuse +2 rate up rate down Reply
1 reply to STEVE's comment
TONY

Wake up , it was not Bush's recession the recession did not hit until the elections of 2008 just before Obama took office , All the lay offs and all that other stuff happened after Obama got elected due to him just continuing the Bush era tax cuts as well as all his policies instead of having any of his own. Not to mention that it was the Democrats in charge of the house from 2006-2010 so get your facts straight . This whole this was due to the massive spending of the Democrats which really hit a high level in the first two years under Obama's Presidency .

October 04 2012 at 5:01 AM Report abuse rate up rate down Reply
two914bt

Ok how many jobs were lost?I a much better question?

October 04 2012 at 1:38 AM Report abuse +1 rate up rate down Reply
1 reply to two914bt's comment
Carol

Let's see.... ummm how many factories and corporate companies were shut down when RMoney took over to profit from them and send their jobs to China? You do the math.

October 04 2012 at 4:48 AM Report abuse rate up rate down Reply
slainte87

adp over estimates the job numbers, its off by a 1/3

October 03 2012 at 11:44 PM Report abuse rate up rate down Reply
ectullis

Will the real unemployment rate please stand up, and of course BHOzo must go.

October 03 2012 at 11:23 PM Report abuse rate up rate down Reply
eversontom2

You just can't trust these figures.. $162,000 jobs is a dicline when it takes adding 350,000 or more. This coming election is critical if America wants to get back on track.

October 03 2012 at 10:56 PM Report abuse -1 rate up rate down Reply
Louis

Yes, in September unemployment usually goes down because teachers, bus drivers, and other school workers go back to work after being on unemployment all summer. After being layed off 2 years ago, all I could find, after retraining, was a 12 an hour, part time job, with no benefits. My home will soon be in foreclosure and I will lose all of the 100K I put down on the house. I will be lucky if I can manage to purchase a trailer home.

October 03 2012 at 10:53 PM Report abuse rate up rate down Reply
RMS

I know two people who have been laid off since May 2012. I myself was out of work for over two years and when I did find work it was not full time, so I took two part time jobs without benefits. These numbers don't show what kinds of jobs have been added. I would bet most are not full time, and most do not have benefits. ADP is not a barometer of reality.

October 03 2012 at 10:28 PM Report abuse rate up rate down Reply
time1865

I guess if you say make up facts enough even you believe them. I know 9 people who have lost their jobs in the past 2 weeks. I know another who works for Lockheed who was told to expect a bloodbath after the election and he is in management. So keep telling us fairy stories.

October 03 2012 at 10:21 PM Report abuse +1 rate up rate down Reply

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