Private sector job growth rose to 143,000 in September, beating expectations: ADP
HR and payroll company ADP ranked cities across the country. The rankings were based on three things that make a strong labor market: annual pay growth, new hire wages and the hiring rate.
The U.S. private sector added more jobs than expected in September as the labor market bounced back after showing signs of cooling in recent months, according to the ADP National Employment Report released Wednesday morning.
Companies added 143,000 jobs in September — more than the 120,000 gain predicted by LSEG economists. The report also revised August's jobs gains upward from 99,000 to 103,000.
ADP found that workers' pay gains, which can contribute to inflation, slowed to a year-over-year increase of 4.7% for job-stayers, while job-changers saw a greater decline from 7.3% in August to 6.6% in September.
«Stronger hiring didn't require stronger pay growth last month,» said ADP chief economist Nela Richardson. «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.»
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ADP's report found the private sector added 143,000 jobs in September. (David L. Ryan/The Boston Globe via Getty Images / Getty Images)
Most of the jobs added in September came in the service-providing sector, which accounted for 101,000 jobs added. Within the sector, leisure and hospitality saw the largest gain, with 34,000 jobs added. Education and health services added 24,000 jobs while professional and business services added 20,000.
Information services shed 10,000 jobs, while financial services recorded a slight gain of 2,000 jobs.
Goods-producing firms added 26,000
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