US Private Payrolls Add 166,000 Jobs in September

U.S. private employers added a fewer-than-expected 166,000 jobs in September, according to Wednesday data from a payrolls processor, underscoring steady but still sluggish growth in the labor market.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 180,000 jobs. August’s private payrolls gains were revised to 159,000 from the previously reported 176,000.

“It basically says that the stimulus will continue,” said Chris Gaffney, senior market strategist, EverBank Wealth Management in St. Louis, Missouri.

“The government shutdown will be a negative impact on the U.S. economy, extending the need for additional stimulus.”

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza