NEW YORK Oct 30 U.S. private-sector employers
added 130,000 jobs in October, lower than economists'
expectations for the month, a report by a payrolls processor
showed on Wednesday.
Economists surveyed by Reuters had forecast the ADP National
Employment Report would show a gain of 150,000 jobs. September's
private payrolls gains were revised down to 145,000 from the
previously reported 166,000.
The report is jointly developed with Moody's Analytics.
The data comes against the backdrop of a federal government
shutdown in the first half of the month, as congressional
Republicans sought to undermine President Barack Obama's
signature health care law as a condition of funding the
Analysts fret that the impasse in Congress dragged on the
economy. Standard & Poor's estimated that the showdown shaved
$24 billion off the world's largest economy.
"Average monthly growth has fallen below 150,000," said Mark
Zandi, chief economist of Moody's Analytics, in a statement.
"Any further weakening would signal rising unemployment. The
weaker job growth is evident across most industries and company