Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

ADP Employment Report Sinks To Weakest Since April 2013

Wednesday, November 2, 2016 6:38
% of readers think this story is Fact. Add your two cents.

Following last month’s disappointing drop in ADP jobs (then confirmed by payrolls), October’s ADP employment report printed 147k (less than the expected 165k) – the weakest since April 2013. A major upward revision (from 154k to 202k) for September. Construction (as spending collapses) and education jobs declined notably as the overall trend of job gains continues to weaken.

According to ADP’s Mark Zandi, “job growth appears to be shifting from small to large companies due to the lessening impact the global economic environment had on large companies earlier in the year,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “This is also true because large companies often have the resources to attract workers with better pay and benefit packages.” Zandi added that “job growth remains strong although the pace of growth appears to be slowing. Behind the slowdown is businesses’ difficulty filling open positions.  owever, there is some weakness in construction, education and mining.” 

Looking at the details shows continued job losses in manufacturing, construction and natural resources jobs, which declined by a total of 18,000 offset by strength in professional and business services and leisure and hospitality:

The trend continues to weaken:

Here is the Change in Total Nonfarm Private Employment by Company Size

The comparison to NFP: Change in Total Nonfarm Private Employment

As a reminder, The Fed’s own labor market indicator is now in contraction YoY:

Full ADP Breakdown:

<br /> ADP National Employment Report: Private Sector Employment Increased by 147,000 Jobs in October<br /> ” width=”598″ height=”1598″ border=”0″ /></p> <div class=


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.