ADP National Employment Report Revised Higher for July
Roseland, N.J. (PPD) — Total private sector employment rose 428,000 in August, missing the forecast for the ADP National Employment Report. Forecasts ranged from a low of 150,000 to a high of 1,460,000. The consensus forecast was 900,000.
The goods-producing sector added 40,000 private sector jobs. Construction added 28,000, manufacturing added 9,000 and natural resources/mining added 2,000.
“The August job postings demonstrate a slow recovery,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Job gains are minimal, and businesses across all sizes and sectors have yet to come close to their pre-COVID-19 employment levels.”
The service-providing sector added 389,000 private sector jobs. Leisure/hospitality added 129,000, education/health services added 100,000 and professional/business services added 66,000.
The change in total private sector employment was revised from +167,000 to +212,000.