The U.S. economy added 135,000 private, non-farm jobs in September according to the monthly employment report released this morning by payroll-management firm ADP and its partner Moody’s Analytics. The seasonally adjusted result is 40.79 percent lower than August’s downwardly revised addition of 228,000 jobs, and marks a 37.79 percent decrease over the previous September, when 217,000 jobs were created.
In a conference call with the press this morning, Mark Zandi, chief economist of Moody’s Analytics, reported that job numbers were impacted by hurricanes Harvey and Irma, and estimates that the affect of the storms cut employment by 50-60,000 positions. Between 185,000 and 190,000 new job additions would have been expected if not for the hurricanes. Zandi reports that retail was hardest hit, although the sector has been softer the past 12 months due to competition with online retailers. However, job growth is still strong overall, and construction and manufacturing experienced growth during September. Zandi expects even stronger gains in construction in the coming months, as rebuilding efforts in the wake of Hurricane Harvey and Hurricane Irma get underway.