US private sector employment rises by 749K in September vs. 650K expected

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Employment in the US’ private sector rose by 749,000 in September, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.

This reading followed August’s increase of 481,000 (revised from 428,000) and came in better than the market expectation of 650,000.

Commenting on the data, “the labor market continues to recover gradually,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “In September, the majority of sectors and company sizes experienced gains with trade, transportation and utilities; and manufacturing leading the way. However, small businesses continued to demonstrate slower growth.”

Market reaction

The US Dollar Index largely ignored this data and was last seen gaining 0.23% on a daily basis at 94.09.

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