ADP Jobs Report Shows Increase in Private Sector Hiring
ADP has release it's latest National Employment Report, which shows that private businesses added more than 160,000 jobs in September. That increase beat expectations, but was fewer than the 189,000 new jobs reported in August.
Oct. 03, 2012
ADP has release it’s latest National Employment Report, which shows that private businesses added more than 160,000 jobs in September. That increase beat expectations, but was fewer than the 189,000 new jobs reported in August.
On Friday, the U.S. Labor Department will release it’s more comprehensive employment report, with data from both the public and private sector. It is expected to show private-sector growth of about 130,000 jobs.
The ADP report is often used by analysts to develop and refine expectations of the Labor Department’s number, although it has recently exceeded the government’s private payroll numbers.
The nation’s continuing economic struggles and unemployment rate have been a focus of the U.S. presidential campaign. The economy grew at just 1.3 percent in the second quarter and economists believe the recovery will remain sluggish.
ADPs report showed that small businesses (which it defines as firms with 50 or fewer workers) added half of the jobs in September, with 81,000 new workers. Large companies with 500 or more workers added about 17,000 jobs, with the remaining 64,000 jobs added by mid-sized entities.
The increase in private payrolls in August was revised down to 189,000 from the previously reported 201,000. July’s rise was also revised down, to 156,000 from 173,000.