Private-Sector Payroll Numbers Come in Grim
This morning, Automatic Data Processing (ADP) is out with new private-sector payrolls for September. Results are not good: -32K jobs were created in the private sector last month, way down from the +45K expected from analysts. This follows a big downward revision for August: from +54K originally posted to -3K this morning. Non-farm payroll estimates from the BLS — should we get it (which looks unlikely) is still at +51K for now.The ratio between goods-producing and services jobs remained roughly in-line: -3 ...