ADP Employment Beats Expectations

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by Tyler Durden
Wednesday, Sep 30, 2020 - 08:22 AM

After two month of disappointingly low employment gains, ADP reports a 749,000 increase in jobs in September (better than the 649k expected and close to payrolls 800k expectation for Friday).

Source: Bloomberg

For some perspective on that 'rebound', this is the same level of employment as at Dec 2014...

Source: Bloomberg

Medium- and Large-businesses dominated the hiring with only education seeing a drop in employment...

Transportation and Manufacturing saw the biggest job gains...

As a reminder, Friday's is the last payrolls data ahead of the election.