US payroll data consensus 60,000 doable-Prakken

NEW YORK, Nov 3 (BestGrowthStock) – The consensus estimate for
overall U.S. non-farm payrolls to rise 60,000 in October, with
the report to be released on Friday is “easily doable”,”
Macroeconomic Advisers LLC chairman Joel Prakken said on
Wednesday.

U.S. private employers added added a higher-than-expected
43,000 jobs in October after a revised loss of 2,000 in
September. For details see [ID:nEAP10330]

Prakken was speaking to a teleconference of journalists
after the ADP Employer Services report on private sector
employment, which his firm jointly developed.

He described Wednesday’s ADP release as “modestly
encouraging” with the service producing sector adding 77,000
jobs, particularly in small and medium-size businesses.

“It’s encouraging to see the services sector coming like
this,” said Prakken.

However the goods producing sector lost 34,000 jobs with a
decline of 12,000 payrolls in the manufacturing sector.

Friday’s report is expected to show overall nonfarm
payrolls rose 60,000 in October, according to Reuters poll.
(Reporting by Nick Olivari. Editing by W Simon )

US payroll data consensus 60,000 doable-Prakken