by Bill McBride on 10/05/2016 08:19:00 AM
Wednesday, October 05, 2016
Private sector employment increased by 154,000 jobs from August to September according to the September ... 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.This was below the consensus forecast for 170,000 private sector jobs added in the ADP report.
Goods-producing employment was up by 3,000 jobs in September, following August losses of 9,000. The construction industry added 11,000 jobs, following August losses of 2,000 jobs. Meanwhile, manufacturing jobs were down 6,000 in September, after losing 4,000 in the previous month.
Service-providing employment rose by 151,000 jobs in September.
Mark Zandi, chief economist of Moody’s Analytics, said, “The current record of consecutive monthly job gains continued in September. With job openings at all-time highs and layoffs near all-time lows, the job market remains in full-swing. Job growth has moderated in recent months, but only because the economy is finally returning to full-employment.”
The BLS report for September will be released Friday, and the consensus is for 168,000 non-farm payroll jobs added in September.
Posted by Bill McBride on 10/05/2016 08:19:00 AM