ADP: Economy added 204,000 jobs in August
Private-sector employment increased by 204,000 jobs in August, according to the monthly national employment report released by the payroll services firm ADP.
It was the fifth consecutive month that ADP reported employment gains of more than 200,000.
Small business job growth led the way, as firms with fewer than 49 employees added a total of 78,000 jobs in August, down from the 89,000 added in July.
Medium-sized companies (50-499 employees) added 75,000 new positions, down from 88,000 in July, while large companies (500 or more employees) added 52,000 new positions, up from 35,000 the previous month.
In August, the manufacturing sector added 23,000 jobs, followed by construction, which reported an employment gain of 15,000, and financial activities, which added 5,000 jobs.
The monthly ADP report, which is derived from the firm’s payroll data, precedes the official preliminary employment data published by the U.S. Department of Labor. That report, which has seen six consecutive months of job gains above 200,000, will be released Friday, Sept. 5.