August private-sector jobs rise 201,000: ADP
WASHINGTON (MarketWatch) — Private-sector payrolls rose 201,000 in August, led by small businesses and the service-providing sector, according to the ADP (NASDAQ:ADP) employment report released Thursday. The July level was revised to a gain of 173,000 from a prior estimate of 163,000. Markets look to ADP’s report on private-sector payrolls to provide some guidance on the U.S. Labor Department’s jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls. Economists polled by MarketWatch expect the U.S. Labor Department to report Friday that nonfarm-payroll employment rose 120,000 in August, compared with 163,000 in July. They also expect that the unemployment rate remained at 8.3%.