Thursday, September 05, 2019

ADP: Private Employment increased 195,000 in August

by Calculated Risk on 9/05/2019 08:19:00 AM

From ADP:

Private sector employment increased by 195,000 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.
...
“In August we saw a rebound in private-sector employment,” said Ahu Yildirmaz, vice president and cohead of the ADP Research Institute. “This is the first time in the last 12 months that we have seen balanced job growth across small, medium and large-sized companies.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Businesses are holding firm on their payrolls despite the slowing economy. Hiring has moderated, but layoffs remain low. As long as this continues recession will remain at bay.”
This was above the consensus forecast for 150,000 private sector jobs added in the ADP report.

The BLS report will be released Friday, and the consensus is for 158,000 non-farm payroll jobs added in August.