U.S. private payrolls growth slows in September: ADP

[October 02, 2019]  WASHINGTON (Reuters) - U.S. private employers hired fewer workers than expected in September and payroll gains in the prior month were revised lower, pointing to a slowdown in the labor market.

The ADP National Employment Report on Wednesday showed private employers added 135,000 jobs in September. Economists polled by Reuters had forecast private employment to rise by 140,000 jobs in September. Data for August was revised downward to show private payrolls increasing by 157,000 jobs instead of the previously reported 195,000 positions.

The ADP figures come ahead of the Labor Department's more comprehensive nonfarm payrolls report due out on Friday, which includes both public- and private-sector employment. The ADP report is jointly developed with Moody's Analytics.

Economists polled by Reuters are expecting nonfarm payrolls to have increased by 145,000 jobs in September, after rising 130,000 in August. Job gains have averaged 158,000 per month this year, above the roughly 100,000 needed each month to keep up with growth in the working age population.

The unemployment rate is forecast unchanged at 3.7% for a fourth straight month.

(Reporting By Lucia Mutikani; Editing by Bernadette Baum)

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