ADP: U.S. Private Sector Adds 237,000 Jobs in August
Hiring at private U.S. employers grew more than expected, according to a recent report, showing that the economy continues to grow although concerns are mounting about labor shortages.
Firms across the country added 237,000 workers to their ranks in August, according to payroll processor Automatic Data Processing Inc. and forecasting firm Moody's Analytics. Economists surveyed by The Wall Street Journal had expected the addition of 185,000 jobs.
The July total was revised up to 201,000 from 178,000. The ADP report is based on private-payroll data in addition to government data.
"The job market continues to power forward," said Mark Zandi, chief economist of Moody's Analytics. "Mounting labor shortages are set to get much worse."
Growth was driven by large employers, but small and midsize companies also showed employer growth.
The ADP report comes ahead of the monthly jobs report from the U.S. Bureau of Labor Statistics on Friday. The BLS report is expected to show slower gains in employment. Economists expect nonfarm jobs to rise by 179,000 for August, compared with a gain of 209,000 the prior month.
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(END) Dow Jones Newswires
August 30, 2017 08:52 ET (12:52 GMT)