US Private Employment Climbs to Three-Month High in September

Source: ADP

American private employment increased by over half a million in September, posting the highest increase in three months.

• Total US Nonfarm private employment increased by 568,000, up from the 340,000 in August but lower than the 821,000 recorded in September 2020.
• Large businesses accounted for the highest growth with 390,000, followed by medium businesses with 115,000, and small businesses with 63,000.
• The services industry climbed by 466,000 jobs, led by leisure and hospitality with 226,000, followed by education and health services with 66,000, and trade with 54,000.
• Goods-producing industries increased by 102,000, led by manufacturing with 49,000, followed by construction with 46,000, and natural resources with 7,000.
• ADP Chief Economist Nela Richardson said hiring is still hit by the pandemic, especially for small firms.
• Bottlenecks in hiring are expected to fade as health conditions linked to the pandemic are predicted to improve.