Close this search box.

Newsfeed: ADP Reports Better Than Expected Jump In Jobs In September, Wage Growth Accelerates

By Tyler Durden via ZeroHedge

Ahead of Friday’s big number, and following last month’s dismal print (under its new model regime) which dramatically under-predicted the payrolls print in August, ADP was expected to show a modest uptick in September of 200k jobs. The actual print came in at +208k jobs but most notably, the +132k print from August was revised drastically higher to +185k…

Source: Bloomberg

ADP’s Nela Richardson notes that “there are signs that people are returning to the labor market. We’re in an interim period where we’re going to continue to see steady job gains. Employer demand remains robust and the supply of workers is improving–for now.”

The goods-producing sector lost 29,000 jobs in September while Services gained 237k…

Job changers, who have been notching double-digit, year-over-year gains since the summer of 2021, lost momentum in September. Their annual pay rose 15.7 percent, down from a revised 16.2 percent gain in August. It’s the biggest deceleration in the three-year history of our data…

For job stayers, annual pay rose 7.8 percent in September from a year ago, up from a revised 7.7 percent in August.

According to ADP, US private employment is back above pre-COVID levels…

Finally, as a reminder, even under its new model, ADP has been a serial underpredictor relative to the BLS payrolls print…

Which means this Friday’s print will likely not be bad enough to prompt any Fed pause.


More From The Real Estate Guys

The Real Estate Guys™ radio show and podcast provides real estate investing news, education, training, and resources to help real estate investors succeed.


Broadcasting since 1997 with over 600 episodes on iTunes!

real estate podcast on itunesSubscribe on Androidyoutube_subscribe_button__2014__by_just_browsiing-d7qkda4



Love the show?  Tell the world!  When you promote the show, you help us attract more great guests for your listening pleasure!


Be the first to know when new content arrives!

Explore The Archives

[gold_price content="prices"]
[gold_price content="ratio"]

The Real Estate Guys™ Guests and Contributors Have Been Featured On:

Scroll to Top