Wednesday, September 02, 2015

ADP: Private Employment increased 190,000 in August

by Bill McBride on 9/02/2015 08:20:00 AM

From ADP:

Private sector employment increased by 190,000 jobs from July to August according to the August ADP National Employment Report®. ... The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
...
Goods-producing employment rose by 17,000 jobs in August, more than double the 7,000 gained in July. The construction industry added 17,000 jobs in August, up from 15,000 last month. Meanwhile, manufacturing added 7,000 jobs in August, after gaining only 1,000 in July.

Service-providing employment rose by 173,000 jobs in August, up slightly from 170,000 in July. ...

Mark Zandi, chief economist of Moody’s Analytics, said, “Recent global financial market turmoil has not slowed the U.S. job market, at least not yet. Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs. Large companies also remain more cautious in their hiring than smaller ones.”
This was below the consensus forecast for 210,000 private sector jobs added in the ADP report. 

The BLS report for August will be released Friday, and the consensus is for 223,000 non-farm payroll jobs added in August.