NEW YORK, Sept 6 U.S. private employers added a
better than expected 201,000 jobs in August, a report by a
payrolls processor showed on Thursday, a rare dash of good news
for the country's struggling labor market.
July's figure from the ADP National Employment Report was
revised up to 173,000 from the previously reported 163,000.
August's job gain easily topped expectations of 140,000 new
jobs, and was the highest since March.
U.S. stock futures edged higher after the ADP release, and
the U.S. dollar extended gains against the yen.
The U.S. government will deliver the much more comprehensive
August payrolls report on Friday, for which economists expect
payrolls growth to have dipped from July.
The jobless rate was high at 8.3 percent in July, causing
deep concern at the Federal Reserve, which aims for maximum
employment and which could ease policy even more at a meeting
"The gain in private employment in August is strong enough
to suggest that the national unemployment rate may have
declined," Joel Prakken, Macroeconomic Advisers chairman, said
in a statement.
"Today's estimate, if matched by a similar reading on
employment from the BLS (Bureau of Labor Statistics) on Friday,
will alleviate concerns that the economy has slipped into a
downturn," he said.
Economists often refer to the ADP report to fine-tune their
expectations for the highly anticipated payrolls numbers, though
it is not always accurate in predicting the outcome.
The report is jointly developed with Macroeconomic Advisers