U.S. August private-sector jobs rise by 91K: ADP
U.S. August private-sector jobs rise by 91K: ADP (by Ruth Mantell)
WASHINGTON (MarketWatch) -- Private-sector payrolls increased a moderate 91,000 in August, led by the service-producing sector and small businesses, according to the ADP employment report released Wednesday. Economists were predicting the ADP figure would rise by about 100,000. The July level was revised down to 109,000 from a prior estimate of 114,000. Markets look to ADP's report on private-sector payrolls to provide some guidance on the U.S. Labor Department's jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls. Analysts polled by MarketWatch expect Friday's Labor Department employment report to show meager overall growth of 53,000, compared with 117,000 in July, and for the unemployment rate to remain at 9.1%.