U.S. Private Sector Adds 91,000 Jobs in September
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ADP's latest National Employment Report showed that the U.S. private sector added 91,000 jobs in September, this was up slightly from the revised 89,000 jobs added in August and much better than the expected 75,000 additions.
Small businesses, or those with 1-49 employees, continued to lead the way, adding 60,000 jobs. Medium businesses (50-499 employees) added 36,000 jobs and large businesses (more than 499) cut 5,000 jobs.
The service-producing sector added 90,000 jobs, while the goods-producing sector added just 1,000. The manufacturing industry lost 5,000 jobs.
According to Joel Prakken, Chairman of Macroeconomic Advisers, LLC, "Today's ADP National Employment Report suggests that employment grew moderately in September. The recent trend in private employment, as indicated by the ADP National Employment Report, remains moderate, and probably is below a pace consistent with a stable unemployment rate. Moderate growth in employment is consistent with the recent deceleration of GDP."
Small businesses, or those with 1-49 employees, continued to lead the way, adding 60,000 jobs. Medium businesses (50-499 employees) added 36,000 jobs and large businesses (more than 499) cut 5,000 jobs.
The service-producing sector added 90,000 jobs, while the goods-producing sector added just 1,000. The manufacturing industry lost 5,000 jobs.
According to Joel Prakken, Chairman of Macroeconomic Advisers, LLC, "Today's ADP National Employment Report suggests that employment grew moderately in September. The recent trend in private employment, as indicated by the ADP National Employment Report, remains moderate, and probably is below a pace consistent with a stable unemployment rate. Moderate growth in employment is consistent with the recent deceleration of GDP."
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