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ADP Employment Report: 147K Jobs Added In October (Mostly Large Firms)

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

It was another bad report for small firms and the goods-producing sector.

The ADP Employment Report for October showed only 147,000 jobs added, compared with 202,000 jobs added in September. And YoY growth in employment was only 1.85%.


The jobs added were mostly for large firms, another kick in the head for the usual jobs creators, small firms. And good-producing firms lost -18,000 jobs while service firms gained 165,000 jobs.


Here is a closer look showing the contraction in construction jobs. And the jobs added in 1,000+ employee businesses. Information firms added only 3,000 jobs.


The Fed Open Market Committee will announce their rate change decision at 2pm this afternoon. Will Fed Chair Janet Yellen be delivering a Christmas present early


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