October Private Payrolls Rise 235K: ADP

ADP is calling for a limited snap back in the October employment report. ADP sees private payrolls rising 235,000 which is just on the high side of ADP's usual estimates. Actual private payrolls fell 40,000 in September, pulled down by hurricane dislocations. Today's results may, only on the margin, pull down expectations for Friday's private payrolls where the consensus is currently 320,000.

Recent History Of This Indicator:
ADP did call for slowing payroll growth during the hurricane-hit month of September but, at 135,000, was far above the actual decline of 40,000 as reported by the Labor Department. The consensus for ADP's October call is 210,000 though the spread is very wide, between 155,000 and 340,000.