With the average levels of both initial and continuing jobless claims little changed from those prevailing heading into the August report, net new job creation probably remained steady at 190,000 last month. The manufacturing industry contracted in September, shedding 15,000 jobs.
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Economists surveyed by Reuters communicate channel plant hiring managers employed 203,000 people in September, boosting from August’s 173,000 boost that’s the minimum in five months of the year.
The payroll and human resources firm said in its monthly National Employment Report that the USA added 200,000 jobs from August to September, the best result in three months.
Estimates for the Friday BLS report, which now stand at 203K per Bloomberg.com for the “headline” and 195K for the ADP comparable private-sector jobs, is about in-line with what we got from this morning’s report.
In the aggregate, the services sector added 88K in September while goods-producing industries added only 12K.
Construction companies added 35,000 jobs, ADP said, the most since the housing bubble burst in 2006.
Companies at the top of the corporate food-chain – those with more than 500 staff – took on another 106,000 hires, with medium-sized ones adding 56,000 new posts and small businesses another 37,000. “At this pace, full employment is fast approaching”, he said. They predict the Labor Department’s closely watched survey of private and public sector hiring, due Friday, will count 202,000 job gains.
Service-provider employment rose by 188,000, up from 172,000 in August.
“The largest companies appear to be starting to overcome the impacts of weak global demand and the high dollar, while the smallest companies may have pulled back as concerns about the resiliency of the U.S. economy grew and consumer confidence softened”, said Ahu Yildirmaz, head of the ADP Research Institute.
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Since the trough of the Great Recession, 11.8 million private-sector jobs have been added, according to ADP.
