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ADP Jobs Report Beats Expectations

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ADP just released its private sector job creation figures, showing that companies added 241,000 workers versus expectations of 226,000. The service sector was the big contributor, showing a gain of 194,000, while goods producers added 46,000 jobs.

Small business (less than 50 employees) came in with an additional 106,000 jobs, with medium (50-499 employees) gaining 70,000 workers and large business (more than 499 employees) hiring 66,000.

The ADP report continues to show steady, albeit muted, gains on a monthly basis. The ADP report is a prelude to Friday's jobs report from the BLS, with expectations of 243,000 non-farm jobs.

 

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