Prior revised down too
- Prior 195K (revised to 157K)
- Service providing +127K
- Goods producing +8K
- Natural resources -3K
- Construction +9K
- Manufacturing +2K
- Small business +30K
- Midsized +39K
- Large +67K
- Full report
This is a modest miss. The downward revision isn't great but remember that the August non-farm payrolls report was 130K so it's still above that.
From Jeoff Hall: "[The ADP report] overestimated the official (BLS) change in private nonfarm payrolls in eight of the last 10 Septembers, for an average miss of +75k (min +10k, max +175k). In the two Septembers it underestimated, the average miss was -18k (min -23k, max -13k)." That's not a good sign for Friday's jobs report.
