Automatic Data Processing, Inc. released its assessment of job growth in the private sector of the United States. The numbers were released far greater than what many analysts had expected, indicating a boom in private employment growth across a nation befuddled by structural employment deficits.
Fear that Congress will fail to lift the debt ceiling, sending the nation into a potential second collapse, has several economists worried that businesses will be reluctant to hire. Forecasts for this month’s employment data were still for a near-doubling of last month’s reading, but the surprise jump to 157,000 new jobs added in the private sector gave a moment of pause for pessimists who doubted America’s resurgence would happen so quickly.
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