US ADP Report: September proves to be strong for employment

Today ADP employment numbers were released from the US for the month of September.

ADP number shows the US labor markets remains strong.

There are two things to note in the headline that,

• ADP report indicates that the economy remains strong in terms of jobs gain.

• August payroll saw a revision, where the headline was revised up to 168,000 (from 163,000).

Key highlights –

• Non-farm private sector employment grew at 163,000 in August, the median expectation was for 190,000.
• The small business sector added 56,000 jobs, compared to 21,000 gain last month.
• Mid-sized companies added 99,000 jobs compared to last month’s 111,000 jobs.
• The large sector added just 75,000 compared to last month’s 31,000 jobs.
• Manufacturing sector payroll registered 7,000 jobs gain compared to 19,000 jobs gain last month.
• 46,000 jobs were gained in the goods-producing sector, compared to last month’s 24,000 jobs gain.
• The construction sector added 34,000 jobs, compared to last month’s 17,000 jobs gain.
• Services sector remains the main job provider as payrolls added 184,000 people in September. August gain was 139,000.

The dollar index is currently trading at 95.54, down 0.04 percent for the day so far.