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.”
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