The nonfarm private sector lost 32,000 jobs in September, and annual pay was up 4.5% year-over-year, according to the ADP National Employment Report. This follows a downward revision of August’s report from 54,000 jobs added to -3,000.
Small businesses with fewer than 50 employees lost 40,000 jobs. Medium-sized businesses with 50–499 employees lost 20,000 jobs, and large businesses gained 33,000 jobs.
“Despite the strong economic growth we saw in the second quarter, this month’s release further validates what we’ve been seeing in the labor market, that U.S. employers have been cautious with hiring,” said Dr. Nela Richardson, chief economist at ADP.
Service-providing employment lost 28,000 jobs, driven by losses in leisure and hospitality, which shrank by 19,000, followed closely by other services which lost 16,000. However, education and health services gained 33,000 jobs.
Goods-producing employment lost 3,000 jobs. Construction and manufacturing lost 5,000 and 2,000 jobs respectively. Natural resources/mining gained 4,000 jobs.
Read the ADP report.
