Payroll company ADP found private employment increased by 568,000 new jobs in September, exceeding the 425,000 predicted by Dow Jones and continuing a streak of job growth under President Joe Biden, CNBC reports.
The leisure and hospitality industry picked up 226,000 new positions; the industry now has 800,000 more jobs than it had a year ago, after the first major wave of the pandemic. Larger companies, with more than 500 employees on payroll, added 390,000 jobs.
“The labor market recovery continues to make progress despite a marked slowdown from the 748,000-job pace in the second quarter,” ADP Chief Economist Nela Richardson said.