Tue. May 17th, 2022

The U.S. economy added close to 570,000 private-sector jobs during the month of September, ADP and Moody’s Analytics said Wednesday in their monthly employment report, signalling that the world’s largest economy is recovering.

(Photo Courtesy: Al Jazeera)

The report said 568,000 private jobs were added for the month.

According to the assessment, large employers with more than 500 employees accounted for 390,000 of the new jobs. Medium-size businesses made 115,000 hires and small businesses made 63,000.

The service sector accounted for the vast majority of the new jobs – 466,000 – with most in leisure and hospitality, followed by education and health services and professional and business services.

“The labor market recovery continues to make progress despite a marked slowdown from the 748,000 job pace in the second quarter,” ADP Chief Economist Nela Richardson said in a statement.

“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.”

Richardson said concerns over the Delta coronavirus variant is still affecting employment, but less so.

“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,” she said.

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