ADP just put out it's September Jobs Report and we can't wait to break it down for you. The good news is we increased by 135,000 workers. The bad news is it was less than expected. However, this past month has been anything but normal, historically. Given that the month of September was filled with Hurricanes, we should have expected the numbers to be effected.
The Wall Street Journal had expected 150,000 additional jobs for September and others projected 125,000, but these numbers are just forecasts. Nobody could expect the effects that the storm would have on the creation of jobs, particularly in small businesses. Hurricanes Harvey and Irma slowed down businesses, but there is also the matter of lack of competitive compensation.
Wage growth is lacking and skilled workers aren't attracted to the current state of pay. This seems to be less of an issue at larger firms who saw the most job growth. Services also got served the most job growth at 88,000 new jobs. If you break that down further, professional and business services were the real winners with 51,000 jobs.
The government report for September may tell a different story from the ADP report due to their historical disparities, but right now, it looks like the job market is still strong despite these setbacks for growth. Contact ICS for more information on compensation and attracting talent. You can review our current salary guide right now for even more insight.