Private sector employers added 176,000 jobs from July to August, with job gains once again broadly distributed across industries, according to payroll giant ADP.
Additionally, ADP revised its July job gains down slightly from 200,000 to 198,000.
In August, ADP reported small businesses with one to 19 employees added 40,000 jobs, while those with between 20 and 49 employees added 31,000 jobs.
Midsize businesses with between 50 and 499 employees added 74,000 jobs, large businesses with between 500 and 999 employees increased jobs by 5,000, and those with 1,000 or more employees added 27,000 jobs.
Meanwhile, the goods-producing sector tracked roughly half the growth rate of the previous month, adding 11,000 jobs. The construction industry added 4,000 jobs, while manufacturing payrolls rebounded from a July decline, adding 5,000 jobs.
The service-providing sector’s rise was slightly lower in August, with an increase of 165,000 jobs, down from 176,000 in July.
In that sector, professional and business services, which include accounting and tax preparation, had the largest increase in August, of 50,000 jobs. The financial activities sector, on the other hand, saw its smallest monthly increase since June 2012, adding only 1,000 jobs. The trade, transportation and utilities services sector added 40,000 jobs.
ADP’s subset small-business report found that employers with one to 49 employees gained 1,000 jobs in the goods-producing sector and 69,000 in the service-providing sector.
"It is steady as she goes in the job market,” said Mark Zandi, chief economist of Moody’s Analytics, which compiles the monthly employment report with ADP, in a statement. “Job gains in August were consistent with increases experienced over the past two-plus years. There is little evidence that fiscal austerity and HealthCare Reform have had a significant impact on the job market.”
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