TrimTabs: 140K Jobs Added In October
Economists from TrimTabs Investment Research said today that the United States gained 140,000 jobs in October. The report comes two days before the Bureau of Labor Statistics (BLS) will release its own count, which will include the unemployment rate for the month.
The estimate is down from 210,000 in September and 185,000 jobs in August.
Meanwhile, the firm said it expects the BLS to report bigger job gains for October compared to its 114,000 estimate from September.
TrimTabs counts jobs using income-tax receipts from the U.S. Treasury, while the BLS relies on two major surveys of employers and households.
"Our real-time data is now showing a deceleration in job growth following a temporary jump in growth this past summer," said Madeline Schnapp, director of macroeconomic research for TrimTabs.
But the firm believes the growth was caused by seasonal drivers, such as an increase in activity in the housing, mortgage refinancing and automotive sectors.
Another private job counter, ADP, will release its own jobs estimate Thursday.
Correction: A spelling error originally published with this story has been fixed. TrimTabs estimated 210,000 new jobs in September.
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