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- ADP report: private sector adds 190,000 jobs in August
ADP report: private sector adds 190,000 jobs in August
Private sector in the U.S. added 190,000 jobs in August, according the ADP report on Wednesday. July's figure was revised down to 177,000 jobs from a previous reading of 185,000 jobs.
Analysts expected the private sector to add 201,000 jobs.
Services sector added 173,000 jobs in August, while manufacturing sector added only 17,000.
"Recent global financial market turmoil has not slowed the U.S. job market, at least not yet. Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs. Large companies also remain more cautious in their hiring than smaller ones," the Chief Economist of Moody's Analytics Mark Zandi said.
Official labour market data will be released on Friday. Analysts expect that U.S. unemployment rate is expected to decline to 5.2% in August from 5.3% in July. The U.S. economy is expected to add 220,000 jobs in August, after adding 215,000 jobs in July.
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