ADP's report on private-sector employment is likely to get more market scrutiny because the government shutdown is expected to delay Friday's Labor Department report.
Economists expected ADP to report 180,000 additional jobs, according to a consensus forecast. ADP also revised its previously reported estimate for August gains from 176,000 to 159,000. ADP's report is likely to be the best picture of September employment for some time in the absence of the government's closely followed data. The Labor Department's report, scheduled to be released Friday, is now expected to be postponed due to the government shutdown. Economists expected it to show a net gain of 180,000 jobs for the private and public sectors.
Federal government spending cuts have "begun to take a toll on job creation," says Mark Zandi, chief economist of Moody's Analytics, which helps ADP conduct the survey. "The run-up in interest rates may also be doing some damage to jobs in the financial services industry."
Read More: www.usatoday.com/story/money/business/2013/10/02/adp-september-employment-report/2905415/