September posts sluggish job growth
Labor market adds only 166,000 jobs
According to Reuters, U.S. employers added fewer jobs than expected, with only 166,000 positions created in September.
Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 180,000 jobs. August's private payrolls gains were revised to 159,000 from the previously reported 176,000.
"It basically says that the stimulus will continue," said Chris Gaffney, senior market strategist, EverBank Wealth Management in St. Louis, Missouri.