Job creation at the company level rose about in line with expectations in August, despite weakness in manufacturing and construction, according to the latest report from ADP and Moody's Analytics.
Companies added 177,000 positions for the month, just above Wall Street expectations for 175,000.
While the headline number appeared solid, the internals were a bit weaker. All of the new jobs came from services, which added 183,000 positions. Goods-producing industries actually lost 6,000 for the month.
"Broadly speaking, the labor market feels really good," said Mark Zandi, chief economist at Moody's Analytics. "All of the internals of the labor market are solid."
The disappointment on the goods side featured a loss of 2,000 construction jobs and a net gain of zero in manufacturing. The goods-producing sector lost 5,000 jobs in July as well.
At an industry level, the biggest gains came from professional and business services, which added 53,000. Trade, transportation and utilities contributed 26,000, while financial activities grew by 15,000. Franchises added 19,200.
As for size, gains were fairly evenly distributed. Companies with more than 500 workers added 70,000, while those with fewer than 50 employees gained 63,000 and medium-sized companies contributed 44,000.