Private payroll gains in August revised down
NEW YORK (Reuters) — U.S. private employers added 200,000 jobs in September, beating economists' expectations and suggesting there might be enough jobs growth for the Federal Reserve to raise interest rates later this year, 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 194,000 jobs.
Private payroll gains in August were revised down to 186,000 from an originally reported 190,000 increase.
The report is jointly developed with Moody's Analytics. The ADP figures come ahead of the U.S. Labor Department's more comprehensive non-farm payrolls report on Friday, which includes both public and private sector employment.
Economists polled by Reuters projected U.S. employers hired 203,000 workers in September, improving from August's 173,000 increase which was the smallest in five months. The unemployment rate was forecast to hold at 5.1 percent, a near 7-1/2 year low.