The non-farm private sector gained 143,000 jobs in September and annual pay was up 4.7% year over year, according to the ADP National Employment Report. This follows an upward revision to 103,000 jobs in August from 99,000.
Small businesses with fewer than 50 employees lost 8,000 jobs. Midsize businesses with 50-499 employees gained 64,000 jobs while large businesses gained 86,000.
“Stronger hiring didn’t require stronger pay growth last month,” said Nela Richardson, chief economist for ADP. “Typically, workers who change jobs see faster pay growth. But their premium over job-stayers shrank to 1.9%, matching a low we last saw in January.”
Service-providing employment gained 101,000 jobs driven by gains in leisure/hospitality 34,000 followed by education/health services, which grew by 24,000.
Goods producing-employment gained 42,000 jobs. Construction gained 26,000 jobs and manufacturing gained 2,000 jobs.
