The nation’s private sector employment grew by nearly 200,000 jobs in August, according to the latest report by Roseland-based ADP.
The payroll and human services company said in its monthly ADP National Employment Report that total nonfarm private employment rose 195,000 jobs from July to August.
“In August we saw a rebound in private-sector employment,” Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said. “This is the first time in the last 12 months that we have seen balanced job growth across small, medium and large-sized companies.”
By company size, medium businesses with 50-499 employees dominated the month, adding 77,000 new positions, while small businesses of under 50 workers added 66,000 and large businesses with 500 or more employees added 52,000.
Among the top two sectors, ADP said, those in the service-providing industry added 184,000 new roles, while the goods-producing industry added 11,000 jobs.
Breaking down the service-providing sector, education and health services was the top gainer, adding 58,000 new positions. Next up was leisure and hospitality, which saw a growth of 42,000; trade/transportation/utilities added 39,000; professional and business services added 35,000; other services added 11,000; and financial actives added 5,000. The only subset to lose jobs was information, which lost 6,000 roles.
In the goods-producing sector, manufacturing added the most with 8,000 new jobs. Natural resources and mining lost 2,000 while construction added 6,000.
“Businesses are holding firm on their payrolls despite the slowing economy. Hiring has moderated, but layoffs remain low. As long as this continues, recession will remain at bay,” Mark Zandi, chief economist of Moody’s Analytics, said.