Private Payrolls Add 135K Jobs In September: ADP

ADP estimates that private payrolls in September will rise 135,000 which matches Econoday's consensus for Friday's results. This would indicate monthly acceleration in private payrolls which in August, as reported by the Bureau of Labor Statistics, rose 96,000. Yet relative to ADP's sample, whose estimate for August rose a revised 157,000, a 135,000 rise would mark slowing.

ADP's data are often hard to read and in any case are not always an accurate gauge for actual employment change as reported by the government, yet today's results do offer, like weekly jobless claims or jobs data in the consumer confidence report, their own confirmation that labor market conditions in September remained very solid.