U.S Companies Add Far More Jobs Than Expected as Manufacturing Hiring Booms, ADP Estimates

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Breitbart

Private-sector payrolls expanded by 749,000 jobs in September, beating expectations, according to a report Wednesday from ADP.

The report, produced each month with Moody’s Analytics in advance of the government’s official read of the employment situation on the first Friday on the month, indicates that hiring picked up in September by more than expected.

 

Manufacturing businesses added 130,000 jobs in the month, according to ADP. That is a very high number for this series and suggests a hiring boom by manufacturing firms.

Construction added 60,000 jobs, the report says. Homebuilding has been expanding rapidly in recent months as the American public has gone on a buying spree for suburban homes.

The category of trade, transportation, and utilities added 186,000, also a very high number for this series in this category.

The ADP survey has badly undercounted employment since the economy began to recovery this summer. It initially reported 167,000 jobs added in July compared with 1.763 million in the government’s official report on the employment situation. The private sector added 1.4 million in the government report. In August, ADP estimated 428,000 private payroll jobs while the government said the U.S. economy added 1.4 million jobs. (On Wednesday, ADP revised its August estimate up to 481,000.)

The Labor Department’s count of nonfarm payrolls growth is expected to show 800,000 jobs. The unemployment rate is expected to fall two-tenths of a point to 8.2 percent.

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GDP measures the economy’s total output of goods and services.