U.S. private employers cut a larger than expected 254,000 jobs in September, though this was less than a revised 277,000 jobs lost in August, a report by ADP Employer Services said today.
News. The Institute for Supply Management’s gauge of business activity in the Chicago area slipped to 46.1 in September, lower than the reading of 52 estimated by economists.
The weakness in the manufacturing sector was a surprise and Wall Street did not like it. Employment, meanwhile, remains dismal.
I am also paying attention to the weakness of the dollar and commodities. Are we in the process of a double dip? It would be bad news for earnings.
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Editor, since 1977
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