According to a new report from the payroll processing company ADP, a substantial number of new hires were made across the economy in September, hitting a higher-than-expected rate of expansions of payrolls. According to the company, some 568,000 private jobs were added in September, which is over 100,000 jobs ahead of the Dow Jones estimate from economists that just 425,000 private jobs would be added for the month.
CNBC notes that these latest jobs numbers emerged “amid concerns about how fast hiring would grow considering ongoing fears over the delta spread and signs that the brisk economic growth of 2021 was beginning to slow heading into autumn, particularly due to supply chain bottlenecks that have driven inflation sharply higher.” Since hiring has continued, surpassing expectations, the Biden administration’s approach to COVID-19 and related issues appears to be paying off. Specifically, 226,000 of the new jobs were added in the leisure and hospitality sector, while goods producers were also high on the list of sectors with new jobs, adding 102,000 in September, according to the ADP report.
The ADP report can be significantly different from jobs reports for the same time period from the Labor Department — but according to CNBC, the difference is often that the ADP findings sit below numbers from federal officials. As the outlet put it, “Through August, the ADP count of private payrolls had undershot the government’s tally by an average 37,000 per month.” Thus, with the high numbers from ADP, there should be reason for optimism about the impending September report from the Labor Department, which is set to be released on Friday. Before Biden won the presidency and took office, predictions abounded — including from former President Trump himself — that a Biden administration would mean economic ruin for the United States. These predictions have not turned into reality.
Presently, Democratic leaders are promoting two government spending pushes, including an infrastructure bill and a bill involving federal financial support for what’s been termed “human infrastructure,” meaning child care, care for elders, and the like. Both pieces of legislation essentially amount to jobs bills, supporting the creation of significant numbers of accessible jobs throughout the country for initiatives like the expansion of broadband internet service in rural communities and more.
