(Bloomberg) — US companies added 749,000 jobs in September, a private report showed, indicating the labor market’s gradual rebound is continuing as demand rises from the depths of the coronavirus pandemic.
Businesses’ payrolls increased after an upwardly revised 481,000 rise in August, according to ADP Research Institute data released Wednesday. The median projection in a Bloomberg survey of economists called for a 649,000 gain in September.
While the gain could be viewed as good news for a labor market as businesses continue to hire in industries where demand is growing, ADP’s measure of private employment is still more than 10 million below its pre-pandemic level. The persistent spread of the coronavirus remains a challenge, while a stalemate over federal aid for businesses and the unemployed is limiting momentum in the economy.
Sustaining the economic rebound depends on the extent to which the government controls the spread of the coronavirus and