Private payrolls show growth of 143,000 in September, ADP says

Private sector hiring improved in September, with companies adding 143,000 jobs, up from an upwardly revised 103,000 in August and surpassing economists’ forecast of 128,000, according to ADP.

Despite this increase, pay growth declined, with the 12-month wage gain for job holders dropping to 4.7% and to 6.6% for job switchers, down 0.7 percentage points from August.

Job gains were broad-based, led by leisure and hospitality (+34,000), construction (+26,000), and education and health services (+24,000), while the information services sector lost 10,000 jobs.

Most growth occurred in companies with over 50 employees, while small firms saw a decline of 13,000 jobs, CNBC has reported.

read more: https://www.cnbc.com/2024/10/02/private-payrolls-show-better-than-expected-growth-of-143000-in-september-adp-says.html

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