ADP Data Show Six Consecutive Months of Job Gains Above 200,000
Private-sector hiring picked up slightly in September, marking the sixth consecutive month of job gains above-200,000, according to the September 2014 ADP National Employment Report, a sign of strong and steady growth.
Last month, private-sector employers added 213,000 jobs, up from 202,000 in August. During the quarter that ended in August, the economy gained an average of 207,000 jobs per month, up from 184,000 in the year-earlier period, according to government data. The U.S. Labor Department’s employment report, the source of ADP data, covers government jobs in addition to the private sector which showed that total nonfarm employment rose by 220,000 jobs in September, after adding just 142,000 positions in August.
All major industries covered by the ADP report added jobs last month with trade/transportation/utilities adding the most at 38,000. Manufacturing was second adding 35,000 jobs. Professional and business services added 29,000 jobs while construction added 20,000. The financial activities industry came in last adding just 5,000 jobs. With 155,000 jobs added, service-providing businesses significantly out-hired goods-producing businesses which added 58,000 jobs.
According to ADP, private-sector service providers added 155,000 jobs last month, and goods producers added 58,000 positions. Small businesses added 88,000 jobs, large businesses added 77,000 jobs and medium businesses added 48,000 jobs.
“Especially encouraging most recently is the increasingly broad base nature of those gains. Nearly all industries and companies of all sizes are adding consistently to payrolls,” said Mark Zandi, chief economist of Moody’s Analytics, which prepares the report for ADP.