U.S. private employers add 749,000 jobs in September, keeping expectations high

Private employers hired faster than expected in September, indicating that the country’s epidemic-hit labor market continues to emerge from the coronavirus crisis, the ADP National Employment Report said on Wednesday. Is.

The report shows that companies created 9749,000 new jobs last month, an increase of 50,00050,000 jobs, as expected by economists surveyed by Refinitive.

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Ahu Yildirmaze, vice president and co-head of the ADP Research Institute, said in a statement that the labor market continues to improve slowly. “In September, most sectors and company sizes have experienced benefits with trade, transport and utilities; And leads the way to production. However, small businesses show slower growth. “

The September tide was spread across most industries, with the biggest gain in production being an increase of 130,000; Trade, transportation and utilities, over 186,000; And health care and social assistance, to which 101,000 have been added. Leisure and hospitality, one of the industries most affected by the crisis, added 92,000 workers.

Business and professional services increased by 78,000, and construction increased by 60,000.

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Large enterprises are leading industries by size, with 297,000 jobs added last month in firms employing more than 500 workers. Medium-sized businesses added 259,000 jobs and small businesses added 192,000 employees.

The more closely watched job report from the Labor Department is a general indicator of what to expect from the data, while ADP figures have regularly missed government calculations since the epidemic began in mid-March. (In June, for example, the ADP initially said private employers added ૨37.37 million jobs – down from the 8.8 million reported by the U.S. government. It also said the economy lost 2.7 million jobs in May, while the Department of Labor Increased by 2.5 million).

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The Labor Department’s jobs report predicts 50,50,000 jobs in the U.S. economy last month, up from 1 on August 1. is a little less than a million. Analysts expect unemployment to fall to 8.2% from 8.4%.