Private payrolls for August jumped at their fastest pace in five months thanks in part to strong gains in construction and manufacturing jobs, according to the latest release from ADP and Moody’s Analytics.
Companies added 237,000 positions for the last full month of summer, well ahead of the 185,000 that economists surveyed by Reuters expected.
Job creation in the ADP/Moody’s survey was last this strong in March, which saw growth of 255,000. The August number also easily outpaced the 201,000 added in July, a number that was revised upward from the initially reported 178,000.
While service-related industries again dominated the numbers with a gain of 204,000, the month saw notable gains in construction [18,000] and manufacturing [16,000].
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.