A number of analysts mention ADP -157k pvt jobs and 113k Challenger Oct
layoffs. RDQ Economics says the data "point to downside risk to our
forecast for a 200,000 decline in nonfarm payrolls." Newedge Strategy
calls the data weak and says their "call is for a -150k NFP in October.
However, risks to our call are skewed to the downside." GS says the
data, along with sales, show an economy in decline. JPM points out "In
each of the last eleven months the ADP estimate has been above the BLS
figure, with the average miss being 87,000 over that period."