Boston, MA 09/05/2014 (wallstreetpr) – Automatic Data Processing (NASDAQ:ADP) published the latest issue of its National Employment Report for the month of August, which revealed that private payroll added around 204,000 jobs in total in the entire last month of summer.
Expert Call:
Moody’s collaborated with Automatic Data Processing (NASDAQ:ADP) for the preparation of National Employment Report, which showed the growth in terms of jobs. When reporters asked about the data revealed by the company from Mark Zandi, Analytics Chief Economist of Moody’s, he said, “It shows the steady pace of economic development.” According to him the economy is going through a flat growth phase, and it will take some time in returning to 100% job employment data. When asked about the exact timeline, he said it might take another two years, so by the end of 2016, the economy would turn into a better shape.
ADP decided to narrow down its reading from 218,000 to 212,000. Although the company bounced back again in the next month as the number of readers bounced from to 297,000 from 281,000 in the month of June.
According to Carlos Rodriguez, CEO of Automatic Data Processing (NASDAQ:ADP), “The measurement done by us in the month of August was the fifth consecutive time when we predicted job gain over 200,000.” He thinks that it is good for U.S. economy. According to him the consecutive growth in job numbers in U.S is an encouraging fact, and that condition will surely improve in coming months.
Out of all the industries covered by Automatic Data Processing (NASDAQ:ADP), maximum jobs were added by professional and business services i.e. 51,000. P&B services were followed closely by transportation/ Trade/utility sector which reported 28,000 jobs addition, while manufacturing came third with 23,000 jobs. Although two important sectors Construction and financial activities was way behind than others with the addition of 15,000 and 5,000 jobs respectively.
