U.S. private sector employment rose by 204,000 jobs in August, down from an increase of 212,000 in July, according to the ADP national employment report produced by Automatic Data Processing Inc. (NASD: ADP) in collaboration with Moody’s Analytics.

August’s increase marks the fifth consecutive month of employment gains above 200,000. However, economists surveyed by Reuters expected the report to show 220,000 new positions.

“Steady as she goes in the job market,” said Mark Zandi, chief economist of Moody’s Analytics. “Businesses continue to hire at a solid pace. Job gains are broad based across industries and company sizes. At the current pace of job growth the economy will return to full employment by the end of 2016.”

Small businesses added 78,000 jobs in August. Midsize businesses added 75,000 jobs and large businesses added 52,000 jobs.

By sector, the service-providing sector added 164,000 jobs, and the goods-producing sector added 41,000 jobs.