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ADP: Companies Added 162K Workers in September

U.S. private employers added 162,000 workers in September,  payroll processing firm ADP (NASDAQ:ADPannounced on Wednesday.

That topped the 140,000 new jobs that economists had predicted, Bloomberg noted.

Why IS It a Jobless Recovery? (And What Can We Do About It?)
Why IS It a Jobless Recovery? (And What Can We Do About It?)

ADP also revised downward its new jobs estimate for August from a previously-stated 201,000, to 189,000.

Small businesses hired 81,000 new employees last month. Mid-sized business added 64,000 workers, while large companies created just 17,000 new jobs.

Service sector businesses increased their payrolls by 144,000 workers in September. Manufacturing businesses added 4,000 workers last month, while construction contractors hired 10,000 workers.

ADP’s report comes before the Labor Department releases its non-farm jobs report for September on Friday. Hiring reports from the ADP and the government have diverged significantly in recent years.

Last week, the government said that first-time claims for unemployment benefits in the prior week dropped by 26,000 to 359,000, well below economists’ forecasts.

Article printed from InvestorPlace Media, https://investorplace.com/2012/10/adp-companies-added-162k-workers-in-september/.

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