Economic Indicators
Private Payroll Growth Stayed Strong in September – ADP
2022.10.05 08:59
© Reuters
By Geoffrey Smith
Investing.com — U.S. businesses kept hiring at a decent clip in September, despite signs of the broader job market cooling down over the summer, fresh data showed on Wednesday.
Payrolls processor said that private-sector employment rose by 208,000 in the month through mid-September, a little above expectations for growth of 200,000. ADP also revised up its number for August by some 50,000 to 185,000.
The numbers were a sharp contrast to August’s from the Labor Department that was published on Tuesday, which showed one of the biggest ever monthly drops in job vacancies.
ADP’s report comes two days before the government releases official data for the whole U.S. in September.
