ADP: US private payrolls jump by 143K in September
The number of jobs in the private sector in the United States grew by 143,000 in September, according to the ADP National Employment Report released on Wednesday. The increase was bigger than analysts had anticipated.
"Stronger hiring didn't require stronger pay growth last month. Typically, workers who change jobs see faster pay growth. But that premium over job-stayers shrank to 1.9 percent, matching a low we last saw in January," Nela Richardson, chief economist at ADP stated.
Large and medium companies added 86,000 and 64,000 jobs, respectively. On the other hand, jobs in small businesses declined by 8,000. The number of jobs in the service sector surged by 101,000, most of which were in leisure and hospitality, and the number of jobs in the good-producing sector was up by 42,000, most coming from construction.