Thursday, September 6, 2012

august U.S. non-farm private employment report 9/62012

august U.S. non-farm private employment report 9/6 2012 : U.S. non-farm private employment rose significantly more-than-expected in August, industry data showed on Thursday.

In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 201,000 in August, easily surpassing expectations for an increase of 140,000.

The previous month’s figure was revised up to a gain of 173,000 from a previously reported increase of 163,000.

The report said employment in the private, service-providing sector rose by 185,000 last month, after rising by 156,000 in July.

Employment in the private, goods-producing sector rose 16,000 in August, while manufacturing employment added 3,000 jobs.

Construction employment rose for the third consecutive month, adding 10,000 jobs, marking the best reading since March.

The financial services sector added 8,000 jobs from July to August, marking the thirteenth consecutive monthly gain.

While not viewed as a reliable guide for the government jobs report due Friday, it does give guidance on private-sector hiring.

Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.25% to trade at 1.2631.

Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to an increase of 0.5% at the open, S&P 500 futures indicated a gain of 0.55%, while the Nasdaq 100 futures signaled a 0.5% advance.

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