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US adds 190,000 jobs in August, ADP reports

September 02, 2015

US private sector employment rose by 190,000 jobs in August from July, according to the ADP national employment report produced by Automatic Data Processing Inc. (NASD: ADP) in collaboration with Moody’s Analytics. August’s job gains increased slightly from July’s 177,000 additions — a downward revision from a previously reported increase of 185,000 jobs — but are in line with the year-to-date average.

“Recent global financial market turmoil has not slowed the US job market, at least not yet,” said Mark Zandi, chief economist of Moody’s Analytics. “Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs. Large companies also remain more cautious in their hiring than smaller ones.”

However, the jobs gain fell short of the median forecast of 45 economists surveyed by Bloomberg, which called for a 200,000 increase.

Large businesses with more than 1,000 employees added 34,000 jobs, and businesses with 500 to 999 employees added 5,000 jobs.

By sector, the service-providing sector added approximately 173,000 jobs, up slightly from 170,000 in July. Professional/business services contributed 29,000 jobs in July, up 3,000 from July. Jobs in the trade/transportation/utilities sector grew by 28,000, down from 34,000 in July. The 13,000 new jobs added in financial activities was a gain from last month’s 10,000.

The goods-producing sector gained approximately 17,000 jobs in August, more than double the 7,000 gained in July. The construction industry added 17,000 jobs in August, up from 15,000 last month. The manufacturing sector added 7,000 jobs in August, after a gain of only 1,000 in July.