ADP: September Employment Up 200,000

ADP, Roseland, N.J., said private-sector employment increased by 200,000 jobs in September, with large employers leading the way.    

The report, widely considered to be a preview of Friday’s Labor Department employment report, said large businesses (1,000 employees or more) added 106,000 jobs in September, followed by medium-sized businesses (56,000) and small businesses (37,000).  

ADP said service-providing businesses added 188,000 jobs, while goods-producing businesses added 12,000. Manufacturing saw a net loss of 15,000 jobs–its worst showing since 2010–but that was offset by hiring in financial activities (15,000), slightly higher than August (14,000).  

“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, vice president and head of the ADP Research Institute.  

Mark Zandi, chief economist of Moody’s Analytics, noted despite job losses in energy and manufacturing, the economy has averaged nearly 200,000 jobs per month for some time now. “The U.S. job machine continues to produce jobs at a strong and consistent pace,” he said. “At this pace full employment is fast approaching.”