ADP: U.S. Hiring Surged In August With 201,000 New Jobs |
| Forbes - Sep 6, 2012 |
U.S. businesses stepped up hiring last month, adding workers at a greater-than-expected pace, according to a new report from payroll giant ADP. The unexpected surge may suggest that the healing labor market is faring better than previous figures showed.
Private companies in August brought on 201,000 new workers in August. This is considerably higher than economists’ forecasts: Observers predicted 149,000 jobs added last month. July’s gain was upwardly revised by 10,000 to 173,000.
Small and medium-sized businesses contributed the lion’s share of the growth. Large corporations added only 8%, some 16,000.
The greatest growth came in the service sector, where 185,000 workers found employment. Manufacturing’s expansion was halved, falling from to 3,000 new jobs from 6,000 a month earlier.
Another set of data this morning also seemed to reflect an improved labor market. Jobless claims fell to 365,000 last week, lower than economists estimated.
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- Posted: 2012-09-06 10:15:48
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