Private Payrolls Add 125K Jobs In October: ADP

ADP estimates that private payroll growth in Friday's employment report for October will rise 125,000 which hits Econoday's consensus for ADP's estimate. For manufacturing, and the risk that the GM strike may sharply lower payrolls, ADP estimates payrolls will fall but not too sharply, down 4,000.

Forecasters see private payrolls in Friday's employment report, which have been running below ADP's estimates, coming in at 90,000 versus 114,000 in September. Note that ADP has revised down its September estimate from an initial 135,000 to 93,000.