Construction sector helps to lift US private payrolls in Sep, shows data

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Construction sector helps to lift US private payrolls in Sep, shows data - Business Standard

Quick Summary:

Wages for workers remaining in their jobs increased 4.7% on a year-over-year basis after a rise of 4.8% in August.That jump slowed to 6.6% for those changing jobs, down from a 7.3% advance in August.

Economists polled by Reuters had forecast private employment would advance by 120,000 positions after a previously reported gain of 99,000 in August.

The ADP report, jointly developed with the Stanford Digital Economy Lab, was published ahead of the release on Friday of the more comprehensive and closely watched employment report for September by the Labor Department's Bureau of Labor Statistics.