A new jobs report by a private research firm has showed that the hiring of new employees stepped up slightly for the sixth straight month in September as the U.S. businesses added 213,000 new jobs this month.
The findings of the survey by Payroll processer ADP was released on Wednesday.
The survey showed that the pace of hiring by private employers in the United States was up vaguely from 202,000 jobs in August.
Economists say the gains in jobs above 200,000 are usually enough to lower the rate of unemployment in the country.
The figures have clearly given indication of a healthy jobs report by the government, revealing a rebound in the hiring process in September. The government jobs report is likely to be released on Friday.
According to the government report, the U.S. employers added only 142,000 jobs in August.
Market watchers say as the ADP survey covers only private businesses, its figures are tend to diverge from the government’s jobs report which is more comprehensively prepared. Notably, the August’s jobs figure by the ADP was much higher than that of the government’s report.
Meanwhile, the economists are expecting addition of 215,000 new jobs in the government’s employment report for September. On the other hand, the experts also project the unemployment rate to remain at 6.1 percent.
Jim O’Sullivan, an economist at High Frequency Economics, say, “The ADP data add to the evidence that the trend in employment growth remains solid, at least 200,000 per month.’’
Mark Zandi, chief economist at Moody’s Analytics, characterized August’s hiring as “broad-based around most industries and the company sizes”.
Moody’s Analytics helps in compiling the report.
Meanwhile, the American manufacturing companies added 35,000 new jobs in August. According to Zandi, the figures were likely driven by strong hiring process in the auto sector. It is interesting to know that the car sales in the US remained healthy all year.
Meanwhile, the construction firms also hired 20,000 workers, down from 23,000 the previous month. On the other hand, the retailers, shipping firms and utilities added 38,000 new employees in September, while financial services added 5,000 new jobs.
Latest posts by Christina Langfold (see all)
- Scientists Discover the Second Fastest Spinning Pulsar In The Universe - Mar 19, 2019
- Coral Reef Damage Scares Florida Keys Researchers and Businesses - Mar 19, 2019
- Nike to Slash Global Workforce by 1,400 - Mar 19, 2019