The non-farm private sector added 237,000 jobs in August, according to the ADP National Employment Report. July’s figure was revised up from 178,000 to 201,000. The trade, transportation and utilities job sector accounted for 23.6% of August’s growth.
Businesses of all sizes saw steady increases. Small businesses with fewer than 50 employees rebounded from added 48,000 jobs, while medium-sized businesses with 50-499 employees created 74,000. Large businesses had an especially strong month, adding 115,000 jobs.
Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to power forward. Job creation is strong across nearly all industries, company sizes. Mounting labor shortages are set to get much worse. The initial BLS employment estimate is often very weak in August due to measurement problems, and is subsequently revised higher. The ADP number is not impacted by those problems.”
Service-providing employment rose by 204,000 jobs, driven by the trade, transportation and utilities services sector which added 56,000. The health services sector had a robust report, adding 42,000 jobs. The information sector was the only services industry that didn’t increase, shedding 3,000 jobs. Goods-producing employment grew by 33,000 jobs. The manufacturing industry gained 16,000, while the construction sector led the way, adding 18,000 jobs.
Read the ADP report.
