Sunday, October 24, 2021

ADP-Moody’s: US economy added 568,000 private jobs in September

6th October (WNN) — ADP and Moody’s Analytics said in their monthly employment report on Wednesday that the US economy added about 570,000 private sector jobs during September.

The report said 568,000 private jobs were added for the month.

According to estimates, large employers with more than 500 employees contributed 390,000 to new jobs. Medium-sized businesses hired 115,000 and small businesses hired 63,000 people.

The services sector accounted for the vast majority of new jobs – 466,000 – of which the majority is in leisure and hospitality, followed by education and health services and professional and vocational services.

“The labor market continues to improve despite a significant slowdown at 748,000 job speeds in the second quarter,” ADP chief economist Nela Richardson said in a statement.

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“Leisure and hospitality is one of the biggest beneficiaries to the recovery, yet recruitment is still heavily impacted by the trajectory of the pandemic, especially for smaller firms.”

Richardson said concerns over the Delta coronavirus version are still affecting employment, but less so.

“The barriers to hiring should fade as health conditions associated with the COVID-19 version continue to improve, setting the stage for solid job gains in the months to come,” he said.

The Labor Department will release its September jobs report on Friday.

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