ADP Employment Change for September came in with private sector employment increasing by 166 Thousand, below the 180 Thousand that economists expected. The August number was revised down to 159 Thousand from the originally reported 176 Thousand. This is the only employment numbers we are going to get this week. No data will be coming out of Washington DC this week.
-- By Company Size
-- Small businesses: 74,000
-- 1-19 employees 46,000
-- 20-49 employees 28,000
-- Medium businesses: 28,000
-- 50-499 employees 28,000
-- Large businesses: 64,000
-- 500-999 employees 5,000
-- 1,000+ employees 59,000
-- By Sector
-- Goods-producing 19,000
-- Service-providing 147,000
-- Industry Snapshot
-- Construction 16,000
-- Manufacturing 1,000
-- Trade/transportation/utilities 54,000
-- Financial activities -4,000
-- Professional/business services 27,000
MBA Mortgage Applications for the week ending September 27th decrease -0.4% compared to an increase of 5.5% the prior week.
The shutdown of the U.S. Government lasting one week would probably shave 0.1 percentage point from economic growth, according to the median estimate of economists, with the costs accelerating if the closing persists. Estimates of the setback to gross domestic product ranged from zero to 0.4 percentage point, according to 40 economists in a Bloomberg survey.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
225-342-0013
jbroussard@treasury.state.la.us
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