The employment
report issued by Automatic Data Processing Inc. (ADP) and Moody's Analytics revealed
that U.S. private employers added 143,000 jobs in September. This marked the
first rise in private-sector employment in six months and represented the highest
number since June (+155,000).
Economists had anticipated
an addition of 120,000 new jobs for September.
Meanwhile, the August
figure saw a downward
revision to 103,000 from the originally reported 99,000.
According to
the report, the September job advance reflected a widespread rebound across the
sectors with manufacturing (+2,000) posting an increase in jobs addition for
the first time since April. Meanwhile, information (-10,000) was the only
sector that shed jobs last month.
The report also showed that annual pay increases
slowed in September. The pay gains for job-stayers slipped to 4.7 per cent YoY
from 4.8 per cent YoY in August, while those for job-changers declined to 6.6
per cent YoY from 7.3 per cent in August.