On Wednesday payroll processing company ADP, hiring in the private sector increased in September, suggesting that the labour market is staying steady despite some indications of downturn.
Businesses increased employment by 143,000 for the month, which was more than the 128,000 analysts surveyed by Dow Jones and an acceleration from the upwardly revised 103,000 jobs in August.
The rate of salary growth decelerated further as hiring rose. The 12-month gain for people who are not changing jobs dipped to 4.7%, while the growth for people who move occupations fell to 6.6%, a decrease of 0.7 percentage points from August.
The top industries for job growth were leisure and hospitality (34,000), followed by construction (26,000), education and health services (24,000), professional and business services (20,000), and other services (17,000).
The only industry to record a decline was information services, which fell 10,000. Ten thousand of the total came from service providers, and the remaining portion came from manufacturers of commodities.
Regarding size, all of the expansion was attributed to businesses employing more than fifty people. Small businesses suffered a loss, with those with fewer than 20 employees seeing a 13,000 decrease.
Source (CNBC)
