US businesses add 237,000 jobs in August
Solid gains in both construction and manufacturing.
Private sector employment in the United States increased significantly month-on-month in August, rising at its quickest pace in five months, according to the latest data.
This month’s ADP Labor Market Survey reveals from July to August, 237,000 new nonfarm jobs were created.
August’s figures were higher than July’s upwardly revised 201,000 jobs and fell just short of March’s 255,000.
Service-providing jobs continued to dominate new employment in August, contributing 204,000 jobs in areas such as trade/transportation/utilities (56,000), education/health (45,000) and leisure/hospitality (51,000).
The goods-producing sector enjoyed its best performance in months, with solid gains in both construction (18,000) and manufacturing (16,000). However, natural resources/mining (-1000) jobs decreased in August.
Analyzing the numbers by company size, large businesses (500+ employees) added 115,000 jobs, medium-size enterprises (50-499 employees) had 74,000 additions and small businesses’ (1-49 employees) added 48,000.
The research report, produced and distributed by ADP Research Institute and Moody’s Analytics, was released ahead of the Bureau of Labor Statistics’ monthly Employment Situation Summary, due this Friday.
The government fact-finding agency is anticipating a gain of 180,000 new jobs in August, slightly lower than ADP’s figures, although the gap between the two data reports can often be much more substantial.