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November 1, 2012

ADP predictions surpass analysts expectations for October jobs report

  • 88,000 new jobs are expected to have been added during October according to analysts ahead of the release of the Labor Department’s October jobs report. If accurate, it would mean the economy created almost 30,000 fewer new jobs than the 114,000 added during September.
  • 158,000 jobs were added to the U.S. economy during October according to payroll processor ADP — in a report typically used by analysts to revise their own expectations ahead of the official jobs report. The firm is using a new forecasting model this month, thanks to a recent overhaul from Moody’s, which many expect to deliver far more accurate results than the faulty ones ADP has become known for in recent months. The official Labor Department October jobs report is currently scheduled to be released tomorrow. source
14:25 // 1 year ago