US: Private sector employment increased by 230,000 jobs in September - ADP

"Private sector employment increased by 230,000 jobs from August to September," the ADP stated in its latest report. This reading surpassed the market expectation of 185K and the previous reading of 163K. Below are some key quotes from the official press release.

• The labor market continues to impress.
• Both the goods and services sectors soared. The professional and business services industry and construction served as key engines of growth.
  • They added almost half of all new jobs this month.
• The job market continues to power forward.
• Employment gains are broad-based across industries and company sizes.
• At the current pace of job creation, unemployment will fall into the low 3%’s by this time next year.