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U.S. Private Sector Employment Unexpectedly Decreases In September
(RTTNews) - Private sector employment in the U.S. unexpectedly decreased in the month of September, according to a report released by payroll processor ADP on Wednesday.
ADP said private sector employment fell by 32,000 jobs in September after dipping by a revised 3,000 jobs in August.
Economists had expected private sector employment to climb by 50,000 jobs compared to the addition of 54,000 jobs originally reported for the previous month.
"Despite the strong economic growth we saw in the second quarter, this month's release further validates what we've been seeing in the labor market, that U.S. employers have been cautious with hiring," said ADP chief economist Dr. Nela Richardson.
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U.S. Manufacturing Index Inches Higher In September But Still Indicates Contraction
A report released by the Institute for Supply Management on Wednesday showed its reading on U.S. manufacturing activity crept slightly higher in September but continued to indicate contraction. The ISM said its manufacturing PMI edged up to 49.1 in September from 48.7 in August, although a reading below 50 still indicates contraction. Economists had expected the index to inch up to 49.0.
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U.S. Private Sector Unexpectedly Cuts 32,000 Jobs In September
Private sector employment in the U.S. unexpectedly decreased in the month of September, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment fell by 32,000 jobs in September after dipping by a revised 3,000 jobs in August. Economists had expected private sector employment to climb by 50,000 jobs.
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CBO Estimates 750K Employees Could Be Furloughed Daily If Govt Shuts Down
The Congressional Budget Office said on Tuesday that about 750,000 federal employees could be furloughed each day if the government shuts down. The total cost of the compensation for furloughed employees would be about $400 million, the CBO Director Phillip Swagel said in a response letter to a query from Senator Joni Ernst.
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U.S. Job Openings Rebound To 7.227 Million In August
After reporting a pullback by U.S. job openings in the previous month, the Labor Department released a report on Tuesday showing job openings rebounded in the month of August. The Labor Department said job openings rose to 7.227 million in August from an upwardly revised 7.208 million in July.
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U.S. Consumer Confidence Index Falls To Five-Month Low In September
Partly reflected a steep drop by consumers' assessment of current business and labor market conditions, the Conference Board released a report on Tuesday showing a bigger than expected decrease by its reading on U.S. consumer confidence in the month of September. The Conference Board said its consumer confidence index slid to 94.2 in September from an upwardly revised 97.8 in August.
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Chicago Business Barometer Unexpectedly Edges Lower In September
A report released by MNI Indicators on Tuesday expectedly showed a modest decrease by its reading on Chicago-area business activity in the month of September. MNI Indicators said its Chicago business barometer edged down to 40.6 in September after falling to 41.5 in August, with a reading below 50 indicating contraction. Economists had expected the index to rise to 43.0.
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Bureau Of Labor Statistics To Cease Operations If Govt. Shuts Down
The Bureau of Labor Statistics is among the agencies that will completely cease operations if the U.S. government shuts down, the Department of Labor said in a contingency plan that was published on Friday.
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Texas Manufacturing Growth Slows In September: Dallas Fed Survey
Factory activity in Texas grew at a slower pace in September amid a weaker increase in production, but companies continue to expect increased business in the next six months, a survey by the Dallas Fed showed on Monday.
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