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The U.S. added 91,000 nonfarm, private-sector jobs in August, on a seasonally adjusted basis , according to the national employment report released today by Automatic Data Processing Inc. (NASD: ADP). Meanwhile, the report revised down its estimate of U.S. job growth in July to 109,000 from the initially reported 114,000.
The services producing sector added 80,000 jobs in August, and the goods-producing sector added 11,000.
Small businesses, those with fewer than 50 employees, added the most workers, or 58,000 jobs. Midsize businesses (between 50 and 499 employees) added 30,000; large companies added just 3,000 jobs.
“This month’s jobs figures show modest job creation,” said Gary C. Butler, CEO of ADP. “Small businesses continued to add the most jobs — more than half of the total of 91,000 — with positive growth for the 21st straight month, and an average of 71,000 jobs a month for the past year. The professional business services, education and healthcare sectors also added jobs, though at a lower overall level than last month.”
“Today’s ADP National Employment Report suggests that the trend in employment moderated somewhat in August at a pace below what would be consistent with a stable unemployment rate,” said Joel Prakken, chairman of Macroeconomic Advisers LLC, which helps produce ADP’s employment report. “Employment in the construction industry rose 7,000 in August, following three consecutive monthly declines.”
The ADP report is derived from a sample of approximately 340,000 U.S. business clients representing more than 21 million U.S. employees.