The ADP employment report, sandwiched between Challenger Gray and the Friday government numbers, showed a tiny improvement in private sector payrolls. It was not enough to convince even optimists that the jobless rate will be better this year.
Private-sector employment increased by 43,000 from September to October on a seasonally adjusted basis, according to the latest ADP National Employment Report. The estimated change of employment from August to September was revised up from the previously reported decline of 39,000 to a smaller decline of 2,000. Since employment began rising in February, the monthly gain has averaged 34,000 with a range of -2,000 to +65,000 during the period
The party hats will have to be put away until at least next year
Douglas A. McIntyre
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