ADP Forecasts Slowing In Employment Growth

ADP is looking for significant slowing in employment growth for September, to 154,000 for its private payroll estimate vs a slightly revised 175,000 in August. The Econoday consensus for private payrolls in Friday's report is 170,000 but today's ADP result will definitely raise talk of a lower print.

Recent History Of This Indicator:
The positive run for ADP's employment estimates does not include August when its call for a 177,000 rise was far over the government's actual private payroll gain of 126,000. Forecasters see ADP's September call coming at 170,000.