Labor market recovery continues to make progress despite marked slowdown, says economist
US private sector employment rose by 568,000 in September from a month ago,according to ADP Research Institute on Wednesday.
The reading was above analysts’ expectation of a 428,000 rise in US payrolls for the month.
Small and medium businesses added 63,000 and 115,000 jobs, respectively, while large businesses added 390,000 in September.
“The labor market recovery continues to make progress despite a marked slowdown from the 748,000 job pace in the second quarter,” ADP chief economist Nela Richardson said in the report.
“Leisure and hospitality remains one of the biggest beneficiaries to the recovery, yet hiring is still heavily impacted by the trajectory of the pandemic, especially for small firms,” she added.