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ADP: Private sector employment rises 200,000 in September

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ADP:  Private sector employment rises 200,000 in September

Middle market companies add 56,000.

According to payroll processing giant ADP, US private employment rose by 200,000 in September, beating analysts’ expectations of a 190,000 increase.  Middle market companies added 56,000 jobs, or  33% of the total.

Goods-producing employment rose by 12,000 jobs in September, off from 15,000 the previous month. The construction industry added 35,000 jobs in September, almost double the 18,000 gained in August. Meanwhile, manufacturing dropped into negative territory losing 15,000 jobs in September, the worst showing since December 2010.

At this pace full employment is fast approaching.”

Service-providing employment rose by 188,000 jobs in September, up from 172,000 in August. The report indicates that professional/business services contributed 29,000 jobs in September, nearly even with August’s 30,000 jobs gained. Trade/transportation/utilities grew by 39,000, up from 25,000 the previous month. The 15,000 new jobs added in financial activities was on par with last month’s 14,000.

"Businesses with more than 1,000 employees contributed over half of the job gains in September, despite weakness in energy and manufacturing,” said Ahu Yildirmaz, VP and head of the ADP Research Institute.

“The largest companies appear to be starting to overcome the impacts of weak global demand and the high dollar, while the smallest companies may have pulled back as concerns about the resiliency of the U.S. economy grew and consumer confidence softened.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The U.S. job machine continues to produce jobs at a strong and consistent pace. Despite job losses in the energy and manufacturing industries, the economy is creating close to 200,000 jobs per month. At this pace full employment is fast approaching.”

 

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