Abhoy Sarkar's Avatar
published in Blogs
Oct 07, 2021
US private sector added +568,000 jobs in September, ADP report shows

US private sector added +568,000 jobs in September, ADP report shows

Payroll processing group ADP released its National Employment Report, which revealed that U.S.  private sector added +568,000 jobs in September, well above the Street consensus forecast of +428,000.

It is the biggest increase in employment since June.

The service sector added +466,000 jobs in September, led by + 226,000 jobs in the leisure and hospitality sector. Goods producers added +102,000 jobs, the strongest gain in a year. Manufacturing added + 49,000 jobs. Construction added +46,000 jobs, the most since last September.

Large companies added +390,000 jobs in September. Medium-sized companies added +115,000 jobs while small companies added +63,000.

Nela Richardson, chief economist of ADP , indicated that small businesses are lagging in hiring because they find it hard to compete with larger firms on compensation.

 

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