US Labor Market Continues Progress in September, Hiring Bottlenecks to Fade as Variant Improves: ADP

The US labor market continues to recover, although the speed of that recovery has slowed, according to the ADP National Employment Report released today.

It found the US added 568,000 nonfarm, private-sector jobs in September.

“The labor market recovery continues to make progress despite a marked slowdown from the 748,000-job pace in the second quarter,” ADP Chief Economist Nela Richardson said. “Leisure and hospitality remains one of the biggest beneficiaries to the recovery, yet hiring is still heavily impacted by the trajectory of the pandemic, especially for small firms.”

Current hiring bottlenecks should fade as health conditions tied to the Covid-19 variant continue to improve, Richardson said. That should set the stage for solid job gains in the coming months.

A lion’s share of the growth in ADP’s report for September was by large businesses, which added 390,000 jobs. Medium-size businesses added 115,000 jobs while small businesses added 63,000.

Here are the jobs added in September by sector:

• Goods-producing, up 102,000
  • Natural resources/mining, up 7,000
  • Construction, up 46,000
  • Manufacturing, up 49,000
• Service-providing, up 466,000
  • Trade/transportation/utilities, up 54,000
  • Information, up 11,000
  • Financial activities, up 22,000
  • Professional/business services, up 61,000
    • Professional/technical services, up 35,000
    • Management of companies/enterprises, up 3,000
    • Administrative/support services, up 24,000
  • Education/health services, up 66,000
    • Healthcare/social assistance, up 43,000
    • Education, up 22,000
  • Leisure/hospitality, up 226,000
  • Other services, up 28,000

Data in the report is derived from ADP payroll data, which represents 460,000 US clients employing nearly 26 million workers in the US.

Friday, the US Bureau of Labor Statistics is scheduled to release its report on job growth in September.

Original Article: https://www2.staffingindustry.com/Editorial/Daily-News/US-labor-market-continues-progress-in-September-hiring-bottlenecks-to-fade-as-variant-improves-ADP-59290