Washington. The private sector in the United States created 143 thousand jobs in September, a figure above expectations and higher than the 103 thousand in August, which breaks a sequence of five consecutive months of slowdown, the consulting firm ADP showed.
The survey confirms that the majority of employment growth was due to the services sector, with 101 thousand net jobs, compared to 42 thousand in goods production companies. The report highlighted that the industry created jobs for the first time since April. The data is one more sign that labor market conditions are not deteriorating.
Economists polled by Reuters had forecast an increase in private employment of 120,000 jobs, following the increase of 99,000 previously reported for August.
The ADP report, prepared jointly with the Stanford Digital Economy Laboratory, was published before the September employment report from the Bureau of Labor Statistics (BLS) of the Department of Labor, which is more comprehensive and more closely followed by the markets. .
Government data showed on Tuesday that the labor market continues with some good momentum, with 1.13 job openings for every unemployed person in August, compared to 1.08 in July. The slow pace of hiring in a context of increasing labor supply driven by immigration is the cause of the slowdown in the labor market.
The Federal Reserve last month cut its benchmark interest rate by half a percentage point (0.50 points), an unusually high figure, to a range between 4.75 percent and 5.00 percent, the first reduction in borrowing costs since 2020, in a nod to growing concern about the health of the labor market.
The US central bank is expected to cut interest rates again in November and December.
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