Wednesday, October 1, 2008

ADP REPORT (almost never accurate)

ECONOMIC REPORT ADP index shows 8,000 jobs lost in September By Rex Nutting, MarketWatch Last update: 8:23 a.m. EDT Oct. 1, 2008Comments: 1WASHINGTON (MarketWatch) -- Employment dropped by 8,000 in the private sector of the U.S. economy in September, according to the ADP employment index released Wednesday. Economists were expecting the ADP index to fall 65,000 after it lost a revised 37,000 in August. See Economic Calendar. Counting some 20,000 jobs typically created in government agencies during a month, the ADP index signals growth of about 12,000 jobs in the nonfarm payroll report to be released Friday. ADP does not include government employment. Economists expect a loss of 103,000 in nonfarm payrolls when it is reported Friday.