US Private Sector Creates 749,000 Jobs in September -- ADP
September 30 2020 - 8:58AM
Dow Jones News
By Xavier Fontdegloria
The nonfarm private sector in the U.S. added 749,000 jobs in
September, suggesting the pace of job gains accelerated in the
month, data from ADP National Employment Report showed
Wednesday.
Total U.S. nonfarm private employment increased by 749,000 from
July to August. Economists polled by The Wall Street Journal were
expecting it to show a gain of 600,000 jobs.
September's reading signals an acceleration in job creation
compared with August figures, which were upwardly revised to
481,000 jobs gained from an initial estimate of 428,000.
Despite the improvements registered every month since May, the
labor market is still far from recovering from the record-breaking
19.4 million jobs destroyed in April as the coronavirus pandemic
took hold and economy was brought into halt.
"The labor market continues to recover gradually," Ahu
Yildirmaz, co-head of the ADP Research Institute, said in prepared
remarks.
Large businesses, those of at least 500 workers, are the ones
which added most jobs, with an increase of 297,000. Medium
businesses, between 50 and 499 employees, added 259,000 jobs, while
small businesses, with a maximum of 49 employees, registered a
192,000 increase in jobs.
"Small businesses continued to demonstrate slower growth," Mr.
Yildirmaz said.
Job creation was seen across almost all sectors, the report
showed, with the service-providing sector adding 552,000 jobs and
the goods-producing sector creating 196,000 jobs.
Among services, trade, transportation and utilities gained the
most, with 186,000 jobs created, followed by 101,000 new jobs in
health care and social assistance. Education subsector saw a
reduction of 11,000 jobs, data showed.
As for the goods-producing sector, manufacturing gained 130,000
jobs, construction 60,000 and mining 7,000.
The report, done by the ADP Research Institute along with
Moody's Analytics, is based on data through the 12th of the
month.
The U.S. Department of Labor is expected to release its
September employment report, which covers the same period as the
ADP National Employment Report, on Friday. Economists are expecting
it to show nonfarm payrolls up 800,000 jobs for the month, and a
reduction in the unemployment rate to 8.2% from 8.4% in August.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
(END) Dow Jones Newswires
September 30, 2020 08:43 ET (12:43 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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