by 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 didn't 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.