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US private-sector job growth highest in 4 months in August

Employment growth in the U.S. private sector climbed to the highest level in four months, topping estimates in August, according to the ADP National Employment Report.

Private-sector employers added 195,000 jobs in August, more than the Econoday consensus estimate of 150,000 additional jobs. Job gains in July were revised down to 142,000 from 156,000.

Medium-sized companies added 77,000 jobs, small businesses hired 66,000 people and large enterprises added 52,000 jobs, according to the report produced by the ADP Research Institute in collaboration with Moody's Analytics.

"This is the first time in the last 12 months that we have seen balanced job growth across small, medium and large-sized companies," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

The service-providing sector recorded employment gains of 184,000, as the educational and health services segment hired 58,000 people.

Employment in the goods-producing industry increased 11,000, led by job gains of 8,000 in the manufacturing sector.

"Hiring has moderated, but layoffs remain low. As long as this continues recession will remain at bay," said Mark Zandi, chief economist of Moody's Analytics.

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