at Calculated Risk on 10/02/2024 08:15:00 AM
From ADP: ADP National Employment Report: Private Sector Employment Increased by 143,000 Jobs in September; Annual Pay was Up 4.7%
Private sector employment increased by 143,000 jobs in September and annual pay was up 4.7 percent year-over-year, according to the September ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab “). …
“Stronger hiring did not require stronger pay growth last month,” said Nela Richardson, chief economist, ADP. “Typically, workers who change jobs see faster pay growth. But their premium over job-stayers shrank to 1.9 percent, matching a low we last saw in January.”
emphasis added
This was above the consensus forecast of 110,000. The BLS report will be released Friday, and the consensus is for 145,000 non-farm payroll jobs added in September.