Prior revised down too

ADP employment
  • 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.