Economy

Private Sector Hiring Increases By 237,000 Jobs In August

Jobs growth came in strong in August, with the U.S. private sector hiring more than 237,000 employees during the month.

According to a report in Reuters, it marks the largest monthly jump in employment numbers in the past five years and came in higher than economists’ expectations. Economists surveyed by Reuters expected the ADP National Employment Report would show an increase of 183,000 jobs. In July, the private payroll increased to 201,000, up from 178,000 in June.

On Friday (Sept. 1), the U.S. Labor Department’s will release its non-farm payroll report, providing more detail from both the public and private sectors. In that case, economists interviewed by Reuters are looking for growth of 179,000 jobs in August, lower than the 205,000 added in July. Non-farm employment is forecast to have increased by 180,000 jobs, reported Reuters. As for the unemployment rate, economists expect it to remain at the 4.3 percent it hit in July, the report noted.

The jobs report for the month of July was also strong, and the U.S. may have online sales to thank for the jump in jobs to handle the eCommerce and internet shopping increase. According to a recent report in The Wall Street Journal, courier and messenger companies brought on 3,200 new workers in July, marking the fourth month in a row of job increases.

In other U.S. economy news, the WSJ, citing statistics from the U.S. Bureau of Labor Statistics, said employment at package delivery firms in the last month hit 669,200, up from 668,000 in December of 2016, a past record for the industry. The courier and messenger industry has also benefited as more people shop online and thus have packages delivered to their homes. While courier and messenger companies are seeing job growth and increasing the number of positions they staff, hiring at warehousing and storage companies is on the decline, reportedly slashing 2,200 jobs in July.

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