Employment Numbers Underwhelm for September

Nonfarm private employment improved by a seasonally adjusted 166,000 jobs for September, according to ADP's (NASDAQ: ADP  ) National Employment Report (link opens in PDF) released today. 

Human capital management company ADP partners with Moody's Analytics to produce this monthly report based on ADP payroll data representing 416,000 U.S. clients employing nearly 24 million workers in the U.S.

After increasing a revised 159,000 jobs for August, analysts had expected a stronger September with 180,000 new jobs. 

Source: ADP. 

Small businesses (1-49 workers) were the main contributor, adding 74,000 employees to their ranks. Medium (50-499) companies added a mediocre 28,000, while large (500+) companies packed in 64,000 additions. 

The services sector contributed an oversized 147,000 jobs, whiles goods-producing companies edged up employment by just 19,000. In a tough month for manufacturing, the industry managed to produce only 1,000 more jobs. 

According to Moody's Analytics Chief Economist Mark Zandi, employment numbers continue to send mixed messages:

The job market appears to have softened in recent months. Fiscal austerity has begun to take a toll on job creation. The run-up in interest rates may also be doing some damage to jobs in the financial services industry. While job growth has slowed, there remains a general resilience in the market. Job creation continues to be consistent with a slowly declining unemployment rate.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2665954, ~/Articles/ArticleHandler.aspx, 9/26/2016 1:32:25 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 days ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/23/2016 4:00 PM
ADP $88.47 Down -0.99 -1.11%
Automatic Data Pro… CAPS Rating: ****