ADP: 190,000 Jobs Created in August

ADP, Roseland, N.J., said private sector employment increased by 190,000 jobs from July to August.  

The company’s National Employment Report, widely considered to be a barometer for Friday’s employment report from the Labor Department, said small businesses 90-49 employees) added 85,000 jobs in August, a 33 percent improvement from July; medium businesses (50-499 employees) added 66,000 jobs, an increase of 5,000 from July; and large businesses (500 employees and higher) added 40,000 jobs, down from 53,000 in July.  

The report said 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. Manufacturing added 7,000 jobs in August, after gaining 1,000 in July. Service-providing employment rose by 173,000 jobs in August, up slightly from 170,000 in July. Professional/business services contributed 29,000 jobs in August, up 3,000 from July. Trade/transportation/utilities grew by 28,000, down from 34,000 the previous month. The 13,000 new jobs added in financial activities was a gain from last month’s 10,000.  

“Employment gains for the month are in line with the year to date average,: said Carlos Rodriguez, president and chief executive officer of ADP.  

Mark Zandi, chief economist of Moody’s Analytics, noted recent global financial market turmoil has not slowed the U.S. job market, “at least not yet. Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs,” he said. “Large companies also remain more cautious in their hiring than smaller ones.”