Thursday, September 4, 2014

ADP: Private Sector Added 204,000 Jobs in August

According to the ADP’s National Employment Report, the private sector added 204,000 jobs in August. The pace of job growth slowed for the second consecutive month, however the number of jobs added remained above 200,000, indicative of a healthy and growing labor market. Moreover, August’s report included a positive revision to June’s headline number, which more than offsets the slight decline in revision to July’s number.

Job gains continued to be centered in the service sector, which added 164,000 in August, down from 190,000 the month prior. Professional and business services declined slightly, to 51,000 jobs added, which was the second slowest month of growth all year, aside from January.

The goods producing sector rebounded in August from a weaker July. The sector added 41,000 jobs, the second highest growth seen all year. Manufacturing added a strong 23,000 jobs in August, the highest total since December 2012.

Read the ADP release.

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