According to the ADP National Employment Report, the non-farm private sector added 200,000 jobs in September, up from 186,000 in August. The goods-producing sector saw slightly slower job growth for the month, while the service-providing sector posted stronger gains.
“The U.S. job machine continues to produce jobs at a strong and consistent pace,” said Mark Zandi, chief economist of Moody’s Analytics. “Despite job losses in the energy and manufacturing industries, the economy is close to creating close to 200,000 jobs per month. At this pace full employment is fast approaching.”
Small businesses, with less than 50 employees added 37,000 in September, down from 92,000 in August. Medium-sized businesses, with 50 to 499 employees added 56,000 jobs, down from 74,000 last month. Large businesses, with 500 or more employees added 106,000 jobs, up sharply from the 21,000 jobs added in August.
Goods-producing employment rose by 12,000 jobs, down from the 15,000 added last month. The manufacturing industry contracted in September, shedding 15,000 jobs. Construction jobs increased by 35,000, almost double August’s 18,000 gain.
Service-provider employment rose by 188,000, up from 172,000 in August. Professional and business services contributed the 29,000 jobs, about the same as last month’s increase, while the Trade/transportation/utilities sector expanded by 39,000 jobs, up from 25,000 in August.
Year to date, the private sector has added 1.76 million jobs – down from 2.08 million in the first 9 months of 2014.
Read the ADP release.