Private sector employment rose by 208,000 jobs in September, more than the 185,000 jobs added in August (an upward revision), according to the latest ADP National Employment Report.
“There are signs that people are returning to the labor market,” said Nela Richardson, ADP’s Chief Economist. “We’re in an interim period where we’re going to continue to see steady job gains. Employer demand remains robust and the supply of workers is improving — for now.”
Most of the job gains over the month occurred in trade/transportation/utilities (+147,000), professional/business services (+57,000), and education/health services (+38,000). Meanwhile, jobs declined in information (-19,000), natural resources/mining (-16,000), and financial activities (-16,000). By establishment size, employment gains ranged from 13,000 (20-49 employees) to 61,000 (50-249 employees).
Annual pay growth inched up from 7.7% to 7.8% in September for job stayers, but fell from 16.2% to 15.7% for job changers. Pay rose the least in other services (6.9%) and construction (7.0%) industries and the most in the leisure/hospitality industry (11.9%). And the larger the firm, the higher the median change in annual pay — pay increased 5.6% year-over-year for the smallest firms and 8.5% for the largest.
