Private Companies Add 177,000 Jobs in August vs 175,000 Est.: ADP

Job creation at the company level rose about in line with expectations in August, despite weakness in manufacturing and construction, according to the latest report from ADP and Moody’s Analytics.

Companies added 177,000 positions for the month, just above Wall Street expectations for 175,000.

While the headline number appeared solid, the internals were a bit weaker. All of the new jobs came from services, which added 183,000 positions. Goods-producing industries actually lost 6,000 for the month.

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.