At 8:15 AM ET, we get the ADP jobs report for October.
What to expect?
Here’s Calculated Risk:
• At 8:15 AM, the ADP Employment Report for October. This report is for private payrolls only (no government). The consensus is for 138,000 payroll jobs added in October, down from 166,000 in September.
And here’s Ben White at Morning Money:
ADP PREVIEW: LIKELY TO BE WEAK — Pantheon’s Ian Shepherdson: “We think the ADP private sector employment number for October will undershoot the 150K consensus, which seems to take almost no account of any hit from the government shutdown. The underlying trend rate of increase in the ADP employment number is about 160K per month.
“The survey excludes government workers, but we know from the jobless claims data that several tens of thousands of private sector employees, at least, were laid off during the shutdown. The administration … has estimated the total private sector hit was about 120K. Our 100K ADP forecast assumes that half of these job losses will be captured by today’s survey, with no change in the underlying trend.”
• At 8:30 AM, the ADP Employment Report for October. This report is for private payrolls only (no government). The consensus is for 138,000 payroll jobs added in October, down from 166,000 in September.
Read more at http://www.calculatedriskblog.com/#QSqysMgPuMLaMQhZ.99
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