ADP Employment Report (09/02/15)
Private sector employment increased by 190,000 jobs from July to August, according to Automatic Data Processing. Goods-producing employment rose by 17,000 jobs in August, more than double the 7,000 gained in July. The construction industry added 17,000 jobs in August, up from 15,000 last month. Meanwhile, manufacturing added 7,000 jobs in August, after gaining only 1,000 in July. Service-providing employment rose by 173,000 jobs in August, up slightly from 170,000 in July.
“Recent global financial market turmoil has not slowed the U.S. job market, at least not yet,” says Mark Zandi, chief economist of Moody’s Analytics. “Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs. Large companies also remain more cautious in their hiring than smaller ones.”
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