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ADP: Private sector employment rises 177,000 in August

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ADP: Private sector employment rises 177,000 in August

Middle market companies add 44,000; manufacturing jobs flat.

According to payroll processing giant ADP, US private employment rose by 177,000 in August, slightly exceeding analysts’ expectations of a 175,000 increase. Middle market companies added 44,000 jobs, or about a quarter of the total, during the month.

Goods-producing employment was down by 6,000 jobs in August, following July losses of 5,000. The construction industry lost 2,000 jobs, following July losses of 5,000 jobs. Meanwhile, manufacturing jobs were flat in August, after gaining 5,000 in the previous month.

“Continued strong growth in service-providing jobs is offset by weakness in goods-producing areas.”

Service-providing employment rose by 183,000 jobs in August, fewer than July’s 199,000 jobs. Professional/business services contributed 53,000 jobs, down from July’s 70,000. Trade/transportation/utilities increased by 26,000 jobs in August, down from 31,000 jobs added the previous month. Financial activities added 15,000 jobs, up from last month’s gain of 13,000 jobs.

“Job growth in August was stable and consistent with levels from previous months as consumer conditions improve,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “Continued strong growth in service-providing jobs is offset by weakness in goods-producing areas.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The American job machine continues to hum along. Job creation remains strong, with most industries and companies of all sizes adding solidly to their payrolls. The US economy will soon be at full employment.”

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