Private-sector employers added 204,000 jobs in August

Private-sector employers added 204,000 jobs in August, the fifth straight month of gains as the labor market steadily improves.

Construction and manufacturing added jobs at a faster clip last month than in July, as those two sectors continue to tack on gains, according to the ADP National Employment Report released on Thursday.

{mosads}The construction industry added 15,000 jobs over the month, slightly above last month’s figure, while manufacturing added 23,000 jobs in August, the most since December 2012.

August’s gains came in less than the downwardly revised 212,000 in July and were well off the June mark of 297,000.

The service sector added 164,000 jobs in August, down from 190,000 in July. 

The government will release its data on Friday and economists expect the addition of about 220,000 jobs, which would be the seventh straight month above 200,000. 

“Steady as she goes in the job market. Businesses continue to hire at a solid pace,” said Mark Zandi, chief economist of Moody’s Analytics.

“Job gains are broad based across industries and company sizes. At the current pace of job growth the economy will return to full employment by the end of 2016.” 

Goods-producing employment rose by 41,000 jobs in August, up from 23,000 jobs gained in July.   

“August marks the fifth straight month of employment gains above 200,000, continuing an encouraging trend for the U.S. labor market,” said Carlos Rodriguez, president and chief executive officer of ADP.

A separate report showed that first-time claims for jobless benefits increased 4,000 to 302,000 last week, a figure hovering near a seven-year low and reflecting fewer layoffs

The four-week moving average was 302,750, an increase of 3,000 from the previous week’s unrevised average of 299,750.