ADP September report posts 89k gain; smallest rise in 33 months

04 October 2023

 

Summary: ADP payrolls up 89,000 in September, less than consensus expectations; August number revised up by 3,000; ANZ: confirms slowing US labour market, smallest rise in 33 months; US Treasury yields fall noticeably; expectations of Fed rate cuts in 2024 harden; positions up in small, medium businesses, down in large ones; slightly over 90% of gains in services sector, led by leisure/hospitality sector. The ADP National Employment Report is a...

read full story