US private sector adds more jobs than expected in September: ADP / Photo: ANGELA WEISS - AFP/File
-
RSC’s ‘Julius Caesar’ Reimagined in Women’s Prison Setting for School Tour
-
Rock & Roll Hall of Fame Inductees Announced; Attendance List Shrinks
-
Thomson Reuters Integrates CUBE Regulatory Intelligence into CoCounsel Legal
-
Below Deck alumnus João Franco and brother arrested after fatal Turkey fight
-
Ole Miss inquiry expands after video and monkey-noise allegations
-
Thousands of Urban Homes Left Without High-Speed Internet Due to Broadband Blackspots
-
General Hospital actor Randall England dies at 75
-
Bunnie XO artwork taken down from Jelly Roll’s Nashville bar
-
London museum removes Russell Brand hair exhibit after rape conviction
-
Arlington sentinel rebukes Pete Hegseth entourage for laughter near memorial
-
Yella Beezy sentenced to life for arranging rapper Mo3’s murder
-
Kylie Jenner employee describes closet ordeal and pepper-spray incident
-
Authorities to identify Montauk Mary and five other Long Island cold-case victims
-
Davante Adams injury deepens Los Angeles Rams receiver shortage
-
Barbie sequel negotiations stall over reported $25 million pay packages
-
João Franco’s earlier post draws attention after arrest over fatal Turkey brawl
-
Bath & Body Works launches buy-one-get-one-free candle offer
-
Alberta Launches $5M Fund for Women’s Neurology Research to Address Gender Gaps
-
Itlu Arjuna receives U/A certificate ahead of theatrical release
-
Dhananjaya de Silva guides Sri Lanka to 221-4 against Pakistan
-
Niraj Kumar earns Los Angeles Olympic quota with 50m rifle bronze
-
Delhi gold loses Rs 800 while silver falls Rs 5,000
-
India extends micro-credit guarantee plan for five years
-
Madlanga Commission Deadline Extended to 2027 Amid Calls for Structural Justice Reform
-
Pradeep Antony, Smeha Manimegalai portray secret spouses in Mr & Mrs Office
-
Zelenskyy arrives in Dublin for meetings on Ukraine and peace efforts
-
Woman barred from every Greggs outlet after series of offences
-
Jury hears social-media image helped identify teen in Scarlett Faulkner case
-
Ketchup packets link suspect to break-in at Eddie Rocket’s restaurant
-
American Airlines passenger falls ill and vomits on three travellers
-
OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
-
US Inflation Broadens as Fed Officials Consider Faster Rate Hikes
-
China's Singles' Day Exposes Persistent Consumer Caution
-
China's Trade Surplus Passes $1 Trillion as Technology Exports Surge
-
Energy Costs Push OECD Inflation Up to 4.5%
-
Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
-
US Adds 165,000 Jobs as Unemployment Falls to 4.1%
-
China's Factory Inflation Accelerates While Consumer Demand Stays Weak
-
Euro-Area Inflation Reaches 4% as Energy Prices Jump
-
Spain's General Strike Links Housing Crisis to Lost Purchasing Power
-
Irish police prepare for further hoax bomb threats after hundreds of schools targeted
-
Korea, Singapore and New Zealand Advance Green Trade Pact Talks
-
RBA Inflation Target Origins: Why Australia Chose a Range Over Zero
-
Ireland and Ukraine consider drone cooperation memorandum after Dublin talks
-
Sister recounts fatal machete attack as Irish murder trial continues
-
Georgia refrigeration company sues EPA after five-year HFC reprieve
-
HoloCoder technology promises brighter smartphone images and 3D depth data
-
EU proposes broad consumer safeguards for apps, subscriptions and ticketing
US private sector adds more jobs than expected in September: ADP
US private sector hiring picked up in September, with employers adding more jobs than anticipated, according to data released Wednesday by payroll firm ADP.
ADP data showed private sector employment rose by 143,000 jobs, significantly higher than the 120,000 figure that a consensus by Briefing.com expected.
The labor market in the world's biggest economy has been under heightened scrutiny as the November 5 presidential election approaches, with polls consistently showing economic concerns are a top priority for voters.
The Federal Reserve has also been closely monitoring employment data, as it walks a tightrope of tackling inflation without triggering an economic downturn.
"Job creation showed a widespread rebound after a five-month slowdown," ADP said in a report.
"Manufacturing added jobs for the first time since April," it added.
August's job gains were revised upwards from 99,000 to 103,000.
ADP chief economist Nela Richardson added that "stronger hiring didn't require stronger pay growth" either.
Annual pay was up 4.7 percent, with wage gains falling slightly according to the report.
Among sectors, services-providing industries added most jobs, with many in the leisure and hospitality segment.
With the Fed starting to lower interest rates in September, this could give the US economy a further boost as borrowing costs shift lower.
Analysts are also closely eying official employment data due on Friday, for a better idea of the labor market's health.
The economy remains one of the key focal points for voters in next month's election.
If ADP's figures accurately foreshadow the official payrolls report, the unemployment rate will be unchanged and job creation will accelerate "after a disappointing result for August," said economists Carl Weinberg and Rubeela Farooqi of High Frequency Economics.
But they conceded that both reports can sometimes diverge.
Samuel Tombs, chief US economist at Pantheon Macroeconomics, said that other economic indicators suggest a cooler private payrolls increase -- maintaining pressure on the Fed to lower rates again next month.
P.Stevenson--AMWN