U.S. ADP,"Private employment up 55,000 over 4 weeks"…reversal of the declining trend

Rebound from September's 32,000 decline with a weekly average increase of 14,250

ADP, a U.S. payroll processing company, said that private U.S. firms added an average of 14,250 jobs per week over the past four weeks. That translates to an increase of about 55,000 on a monthly basis. It marks a reversal from September's negative figure, that is, the trend of job losses.

According to CNBC on the 28th (local time), ADP said it will release the four-week average weekly employment change every two weeks on Tuesdays to fill gaps in economic data caused by the government shutdown. The figure released today is preliminary data for the closed four-week average.

The four-week average weekly increase of 14,250, which converts to about a 55,000 monthly gain, differs from the 32,000 decline in the National Employment Report (NER) that the firm released in September.

The NER measures job changes for the week that includes the 12th of each month and provides detailed information on job gains by sector. It is usually released on the Wednesday of the first week ahead of the National Employment Report that the U.S. Labor Department typically publishes on the first Friday of each month.

ADP's chief economist Nela Richardson said, "ADP's near-real-time employment data released weekly provides an unprecedented level of detail and offers perspective on weekly job gains and losses."

Guest reporter Kim Jeong-ah kja@hankyung.com