U.S. Private Sector Adds 177,000 Jobs

U.S. private employers added 177,000 jobs in August, above economists’ expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 175,000 jobs, with estimates ranging from 135,000 to 225,000.

Private payroll gains in July were revised up to 194,000 from an originally reported 179,000 increase.

The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.

Economists polled by Reuters expect U.S. private payroll employment to have grown by 178,000 jobs in August, down from an increase of 217,000 the month before. Total non-farm employment is expected to have risen by 180,000.

The unemployment rate is forecast to tick down to 4.8 percent from the 4.9 percent recorded a month earlier.

Reuters

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell