Private-sector employment increased by 237,000 in August, on a seasonally adjusted basis, ADP estimated Wednesday.
In July, ADP says 201,000 jobs were added, compared to the earlier estimate of 178,000 jobs added.
Economists surveyed by IFR Markets projected a 183,000 job gain for August.
“The job market continues to power forward,” said Mark Zandi, chief economist of Moody’s Analytics. “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.”
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Gary Siegel
Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.
