US employment data in the private sector surpassed expectations

In August, jobs in the US private sector rose by 237,000 jobs, exceeding expectations of only 185,000 jobs. The July reading was revised to 201,000 jobs from 178,000 jobs.
According to ADP, there was a rise in the levels of employment in small companies by about 48 thousand jobs, and 74 thousand jobs for medium-sized companies, while large companies increased by about 115 thousand jobs in August.
Adding jobs above 200,000 levels for two consecutive months will boost confidence in the labor market and the economy in general, and the data will be consistent as the Fed continues to tighten monetary policy and raise interest rates again before the end of the year.