According to the September ADP® National Employment Report™ nonfarm private sector employment increased by 568,000 jobs from August to September. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally adjusted basis.
In a remarks prepared for the release of the report, Nela Richardson, ADP’s chief economist said, “The labor market recovery continues to make progress despite a marked slowdown from the 748,000 job pace in the second quarter. Leisure and hospitality remains one of the biggest beneficiaries to the recovery, yet hiring is still heavily impacted by the trajectory of the pandemic, especially for small firms. Current bottlenecks in hiring should fade as the health conditions tied to the COVID-19 variant continue to improve, setting the stage for solid job gains in the coming months.”
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
ADP National Employment Report: Private Sector Employment Increased by 568,000 Jobs in September