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Despite a booming construction sector, the latest reports on jobs and manufacturing have some concerned that the U.S. economy is losing some of its steam.
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Private sector employment increased by 200,000 jobs from August to September, according to a new report from the payroll processor ADP, but manufacturing lost jobs.
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August employment numbers show a 700-job gain for the trucking industry, while unemployment dropped to its lowest level since April 2008.
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The employment picture in the U.S. continues to improve but the manufacturing sector is fighting to show better signs of life.
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As for-hire trucking employment hit its highest level in more than eight years, total non-farm employment in the U.S. increased by 215,000 jobs while the unemployment rate remained unchanged.
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Even as service sector growth surged in July, a lackluster employment report is leading to more speculation on whether the Federal Reserve will raise interest rates at its September meeting.
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Economic Watch: The nation’s unemployment rate fell 0.2 of a percent point in June to 5.3%, its lowest rate since April 2008, while 7,400 jobs were added in the for-hire trucking sector.
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Private sector employment in June saw its biggest month-over-month improvement since December, the third month-over-month jump in a row.
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The current trucking employment level is close to its pre-recession peak, while nationwide employers added more jobs during May.
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Two days before a government report on unemployment is set to be released, a report from a payroll processor shows 201,000 non-farm, private jobs were added in the U.S. during May, the biggest gain since January.
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