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Financial News: U.S. Private Sector Employment Jumps More Than Expected

U.S. Private Sector Employment Jumps More Than Expected In September

09/30/2020 - 08:37:00 (RTTNews)

(RTTNews) - Private sector employment in the U.S. surged up by more than expected in the month of September, according to a report released by payroll processor ADP on Wednesday.

ADP said private sector employment spiked by 749,000 jobs in September after jumping by an upwardly revised 481,000 jobs in August.

Economists had expected employment to increase by 650,000 jobs compared to the addition of 428,000 jobs originally reported for the previous month.

"In September, the majority of sectors and company sizes experienced gains with trade, transportation and utilities; and manufacturing leading the way," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "However, small businesses continued to demonstrate slower growth."

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