The October ADP National Employment Report shows U.S. private-sector employers added just 130,000 jobs in October, lower than economists’ expectations for the month, the payrolls processor released on Wednesday.
It’s another month of missed expectatiins, with economists surveyed by Reuters forecasting the ADP National Employment Report would show a gain of 150,000 jobs. Unsurpringly, September’s private payroll gains were revised down to 145,000 from the previously reported 166,000.
Downward revisions have become customary under the Washington-induced, stagnant economy.
The report is jointly developed with Moody’s Analytics.The data comes against the backdrop of a federal government shutdown in the first half of the month, as congressional Republicans sought to delay the individual mandate in ObamaCare, something embattled Democratic senators are now supporting amid the failed launch and news if policy terminations.
Economists are split on whether the shutdown in Congress dragged the economy, or whether it is nothing but more of the same negative effects from ObamaCare seen throught the last three years. “Average monthly growth has fallen below 150,000,” said Mark Zandi, chief economist of Moody’s Analytics, in a statement.
“Any further weakening would signal rising unemployment. The weaker job growth is evident across most industries and company sizes.”
The ADP report was coupled with further negative economic data, whiched showed inflation edged up in September .1 percent. That figure, however, excludes both food and energy increases, where working Americans are hit the hardest in daily expenses.
