Photo: laurenlemon via flickr
Nothing special, just a modestly better-than-expected number from ADP.
ADP surveys only private-sector jobs, and analysts had expected 100K new jobs in October.
Instead we got 110K.
Last month was revised from 91K to +116K.
This is a bit below the current Bloomberg consensus estimates for 125K new private sector jobs for this Friday’s BLS.
So, nothing too dazzling, just solid.
Markets are still looking at a higher open today, with Dow futures currently up 50.
The full report can be found here.
Original post: JOBS WEEK is about to kick into high gear, as ADP is about to releases its estimate for October private payroll gains.
The private firm estimates 100K new private sector jobs vs. 91K last month.
Bear in mind that ADP has been pretty spot on with regard to the ultimate BLS number, although ultimately both are just imperfect surveys.
We’ll have the number when it’s out at 8:15 AM today.