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.



Like this

loading...
loading...

Latest


05 Октября 2017
Simultaneous Centre-state polls from 2018? EC says it's possible!
The government had allotted Rs 3,400 crore and 12,000 crore respectively to the election body to facilitate the idea. Except for Mizoram, elections in the remaining six will be over by September 2018.

05 Октября 2017
Dust, not aliens, behind mysterious dimming of Tabby's Star
The researchers found that the dimming effect was less pronounced in the infrared wavelengths of light than the ultraviolet light. The explanation applies to the long-term dimming, but not necessarily to the shorter-term changes in brightness.

05 Октября 2017
Mozilla drops support of Firefox on Windows XP and Vista
Google dropped support for both operating systems back in 2016 for instance, and so did Opera Software and Vivaldi Technologies. Mozilla says that Firefox is one of the few web browsers that still supports Windows XP and Vista.

05 Октября 2017
Aviva reveals investment in United Kingdom robo service
Aviva's investment will also support Wealthify's business development, helping to accelerate Wealthify's future growth plans. Aviva UK Digital Managing Director Blair Turnbull said: " Wealthify aims to take the complexity out of investing".

05 Октября 2017
President Trump visits Las Vegas in wake of shooting
Trump said he's been getting regular updates on the shooting, which left at least 58 people dead and hundreds of others injured. The president also praised the heroism of paramedics, ordinary citizens and some of the shooting victims themselves.

05 Октября 2017
Gago earns Argentina recall for World Cup qualifiers
Sergio Aguero is also out injured for the Argentines right now, but it's not like they are short of options going forward. The final rounds of CONMEBOL qualifying for the 2018 World Cup take place on October 5 and October 10.

05 Октября 2017
Guernsey and Jersey highlighted in Ted Heath abuse allegations report
But police chief Mike Veale today defended his force's report, saying that officers had a duty to take the allegations seriously. None occurred while he was prime minister between 1970 and 1974, while two of the alleged offences occurred after that.

05 Октября 2017
Catalan President Lives Outside Law: Spain's Deputy Prime Minister
One would have expected the King to call for political dialogue in his address, recognising that tensions were high. But no official voting roll has been published and there is no independent electoral commission.

05 Октября 2017
AI-powered Google Pixel 2 comes to India in November
Pixelbook, priced at $999, is the first laptop powered by Google Assistant and will support Snap Inc's Snapchat, the company said. As it turns out, the second-generation Pixel smartphone is more about combining the latest hardware with software refinement.

05 Октября 2017
Trump Addresses Las Vegas Massacre: Though We Feel Anger, Love Defines Us
Stephen Craig Paddock opened fire from a high perch late Sunday, leaving at least 58 people dead and more than 500 wounded. As candidate, Donald Trump supported gun owners' rights and received backing from the National Rifle Association .