FXStreet (Mumbai) – The data released by the Automatic Data Processing, Inc, (ADP) showed the US private sector added more jobs in September than the consensus estimate. The upbeat data comes two days before the much anticipated monthly non-farm payrolls report in the US.
The ADP report showed private sector in the US added 200K jobs in September. Economists had called for the report to show private employers added 190K jobs.
Small sized firms (1-49 employees) added 37K jobs, Mid-sized firms (50-499 employees) added 56K jobs, and Large sized firms (500+ employees) added 106K jobs. Sector wise details reveal 188K jobs were added by the service industry, while the goods-producing sector added 12K jobs in August.
A Labor Department report – Non-farm payrolls – on Friday is projected to show employers, including government agencies, took on 202,000 workers last month, while the jobless rate remained steady at 5.1%.
(Market News Provided by FXstreet)