The US private sector adds 237,000 jobs in August 2017, which is far above expectations, according to ADP’s regular monthly report. The forecast was for 183,000 new positions. The July data were revised upwards to 201,000 from the 178,000 jobs originally calculated.
Trade, transportation and utilities contributed the biggest sector gains, at 51,000, while leisure and hospitality contributed 51,000. Education and health services was next with 45,000 and professional and businesses services grew by 39,000.
On Friday, the official employment data of the Ministry of Labor will be released. These include both the public and the private sector, and provide information on the share of the unemployed and on wage growth. The economists expect employment to rise to 180,000 in August, a little less than 209,000 in July.
Job creation in the ADP/Moody’s survey was last this strong in March, which saw growth of 255,000
The projections are that unemployment will remain at 4.3%, as the economy has added 440,000 jobs over the past two months, according to the government’s official nonfarm payrolls account.