Economy

United States private sector adds fewer jobs in September but beats views

United States private sector adds fewer jobs in September but beats views”

"Hurricanes Harvey and Irma hurt the job market in September", he said in a statement. The gain was close to estimates of economists polled by Econoday, which had forecast a September gain of 140,000 jobs, compared with an original reported increase of 237,000 for August.

Companies added the fewest number of workers in almost a year in September, reflecting a hit to the USA job market from hurricanes Harvey and Irma, according to data released Wednesday from the ADP Research Institute in Roseland, New Jersey.

The hurricanes hit smaller businesses - those with one to 49 employees - especially retailers, the hardest, causing a loss of 7,000 jobs last month.

ADP said private sector employment rose by 135,000 jobs in September after surging up by a revised 228,000 jobs in August.

The number of goods-producing jobs rose by 48,000 on gains of 29,000 construction jobs, 18,000 manufacturing jobs and 1,000 natural resources/mining jobs. For small businesses, the competition for talent is squeezing the smaller of small businesses, those with fewer than 20 employees.

Ahu Yildirmaz, head of ADP's research institute, also said small businesses had slowed hiring and possibly were not offering high enough wages to attract skilled workers.

Service-providing jobs rose by 88,000, including 51,000 jobs in professional/business services and 29,000 jobs in education/health services. This ADP report is derived from actual anonymous payroll data from ADP's 411,000 clients, and this report serves as a precursor to the non-farm payrolls data that will be released on Friday. The unemployment rate is forecast to stay steady at the 4.4 percent recorded a month earlier.

Mark Zandi, chief economist at Moody's Analytics, which helps produce the report, said the effects of hurricanes Harvey and Irma were likely to be transitory.

Analysts look to the ADP report for a hint of what the Labor Department's jobs report, due two days later, may hold.



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