ADP Employment Surges By The Most In 5 Months

ADP reports the US economy added 237,000 jobs in August, notably more than the expected 185k. This is the biggest addition since March, and follows upward revisions for July. While Services dominated (adding 204k), Goods-producing jobs rose 33k (with manufacturing adding 16k).

Medium- and Large-seized firms added the most jobs in August.

 

Manufacturing added 16,000 jobs in August....

 

Trade/Transportantion and Leisyure added the most jobs in August...

“In August, the goods-producing sector saw the best performance in months with solid increases in both construction and manufacturing,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Additionally, the trade industry pulled ahead to lead job gains across all industries, adding the most jobs it has seen since the end of 2016. This could be an industry to watch as consumer spending and wage growth improves.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to power forward. Job creation is strong across nearly all industries, company sizes. Mounting labor shortages are set to get much worse. The initial BLS employment estimate is often very weak in August due to measurement problems, and is subsequently revised higher. The ADP number is not impacted by those problems.

Full Breakdown below...


     ADP National Employment Report: Private Sector Employment Increased by 237,000 Jobs in August

Comments

TheNuclearGenie (not verified) Wed, 08/30/2017 - 08:42 Permalink

HAHA! must suck to be a zerohedger now. I have been making a killing in the markets since 09-10 and it just keeps getting better. I am sorry to say guys but you lost both the battle and the war. I cant even imagine how much money has been lost due to this site.

Decoy 409 Wed, 08/30/2017 - 09:02 Permalink

What a head fake story full of RIPE B.S. This will keep the suckers going while the remainer of the dissolve (or that slow heroin drip) runs out. False pretence of adding more gas debt to the forest fire in a few short weeks. At least the IMF is being sensible. U.S. devaluation of the old king dollar they stated at the meeting is worth 20 cents on the dollar. Now just to get that VIX down to .88 before it's time will help out graciously.

itstippy Wed, 08/30/2017 - 09:10 Permalink

"Mark Zandi, chief economist of Moody’s Analytics, said, “The job market continues to power forward. Job creation is strong across nearly all industries, company sizes. Mounting labor shortages are set to get much worse."How can there be labor shortages when there are millions of Americans not working?  Something's broken in the system.

shimmy Wed, 08/30/2017 - 10:06 Permalink

Can't wait for the trumptards to get all orgasmic over this when the same type of low paying jobs being added during the obozo years were mocked by them. I guess pumpkin being in office now means low paying servcie jobs are great.  

nsurf9 Wed, 08/30/2017 - 11:11 Permalink

Everything - price, income, unemployment, my willy - seems bigger when you switch out the 12-inch ruler for a 8-inch ruler.