US payroll gains fall short of forecasts

NEW YORK • US private employers added 147,000 jobs in October, below economists' expectations, a report by a payrolls processor showed yesterday.

Economists surveyed by Reuters had forecast that the ADP National Employment Report would show a gain of 165,000 jobs, with estimates ranging from 130,000 to 190,000.

Private payroll gains in the month earlier were revised up to 202,000 from an originally reported 154,000 increase.

The ADP figures come ahead of the US Labor Department's more comprehensive non-farm payrolls report tomorrow, which includes both public and private-sector employment.

Economists polled by Reuters are looking for US private payroll employment to have grown by 166,000 jobs in October, down from 167,000 the month before. The unemployment rate is forecast to tick down to 4.9 per cent from the 5 per cent recorded a month earlier.

REUTERS

A version of this article appeared in the print edition of The Straits Times on November 03, 2016, with the headline 'US payroll gains fall short of forecasts'. Print Edition | Subscribe