Markets
U.S. Private Sector Adds 154,000 Jobs in September – ADP
- U.S. Private Sector Adds 154,000 Jobs in September
US Automatic Data Processing (ADP) report showed that the labor market added the smallest jobs since April in September.
The private sector employment slowed in September, adding 154,000 private sector jobs, down from 175,000 in August, Automatic Data Processing Inc. reported. Economists had earlier forecast 170,000 jobs for September before the report was published.
Mark Zandi, a chief economist at Moody’s Analytics, said job growth should be expected to slow as the economy is nearing full employment.
The ADP report come ahead of the U.S. Labor Department’s non-farm payrolls report due on Friday, which comprises of both public and private sector employment.
The unemployment rate is forecast to stay steady at the 4.9 percent recorded a month earlier.