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Private sector employment data in the US positive for the first time in 4 months

Private sector employment data in the US positive for the first time in 4 months

By م.زهير الشاعر

Published: October 5, 2022

The data from the U.S. Bureau of Labor Statistics today, Wednesday, on U.S. employment data revealed positive employment data for the American private sector during the past September, which may indicate the continued recovery of the economy despite the accelerated pace of U.S. interest rate hikes during the recent period.

The data showed that U.S. nonfarm payroll jobs increased by about 208,000 jobs during that period, exceeding market expectations of adding 200,000 jobs, and higher than the previous reading which showed an increase of about 132,000 jobs during last August, which was revised to 185,000 jobs during the same period.

Below are the key details of the index:

Employment in small businesses decreased by 58,000 jobs.
Employment in medium-sized businesses increased by 90,000 jobs.
Employment in large businesses increased by 60,000 jobs.
Employment in the goods-producing sector decreased by 29,000 jobs.
Employment in the service sector increased by 237,000 jobs.

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