(Reuters) – The private sector in the United States created more jobs than expected in September, the monthly survey from ADP firm showed on Wednesday, further proof that labor market conditions are not deteriorating.
The survey recorded 143,000 job creations in September, compared to 103,000 in August (revised figure of 99,000), while economists polled by Reuters forecast an average of 120,000.
The release of the ADP survey results comes ahead of Friday’s release of the Labor Department’s official employment report.
These data were published the day after the latest “Jolts” (Job Openings and Labor Turnover Survey) report from the US Department of Labor on job openings in August, which unexpectedly increased to 8.040 million, against 7.660 million expected by economists interviewed by Reuters.
Hiring, however, remained weak in August and in line with the slowdown in the jobs market that keeps the US Federal Reserve (Fed) on track to cut interest rates again in November.
The central bank last month cut its benchmark interest rate by an unusually high 50 basis points in September, in response to growing concerns about the health of the jobs market.
The yield on ten-year Treasuries amplified its progression after these data, up 5.1 basis points to 3.7942%, compared to 3.7676% just before publication.
(Report Lucia Mutikani, Diana Mandiá, edited by Blandine Hénault)
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