Private Job Counters: Sept. Job Gains 162K Or More
Two firms that use their own methods to count private sector job creation said today that the country gained 162,000 or more jobs in September.
The ADP National Employment Report, which uses payroll data, said the United States added 162,000 jobs during the month. ADP revised down its July increase by 17,000 to 156,000 and its August increase by 12,000 to 189,000.
Meanwhile, TrimTabs Investment Research, which uses income tax receipt data, said the U.S. gained 210,000 jobs, due in large part to “an improvement in interest-rate-sensitive sectors such as housing, mortgage refinancing and automotive.”
TrimTabs said it has noted an upward trend in income tax receipts that began in June and has continued through September.
But the firm projected that the job growth will not last when scheduled tax increases hit consumers at the start of 2013.
Noting that the federal Bureau of Labor Statistics (BLS) is expected to announce job gains of 120,000 on Friday, TrimTabs said it believes the BLS is missing the full extent of job gains because the agency’s counting method is more effective at counting public employment and less at measuring gains at small businesses, which are responsible for 84 percent of recent job growth.
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