Job growth in the private sector was slower than expected in August, as ADP's report showed a gain of 99,000 jobs, fewer than the 145,000 expected by economists.
The U.S. private sector added fewer jobs than expected in August as the labor market continued to cool off amid high interest rates, according to the ADP National Employment Report released Thursday morning. Companies added 99,000 jobs in August – fewer than the 145,000 gain predicted by LSEG economists and the fewest number of jobs added in the report since January 2021. The report also revised July's gains downward to 111,000 after the initial report found 122,000 jobs added.
Medium-sized businesses with between 50 and 499 employees saw the most job growth in August, adding 68,000 jobs. Businesses with more than 500 employees added 42,000 jobs. Those with fewer than 50 employees shed 9,000 jobs last month. The ADP report's regional breakdown found that the majority of the job growth occurred in the South, where 55,000 jobs were added.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
August private payrolls rose by 99,000, smallest gain since 2021 and far below estimates, ADP saysThe total was less than the downwardly revised 111,000 in July and below the Dow Jones consensus forecast for 140,000.
Read more »
August private payrolls rose by 99,000, smallest gain since 2021 and far below estimates, ADP saysThe total was less than the downwardly revised 111,000 in July and below the Dow Jones consensus forecast for 140,000.
Read more »
Private payrolls miss expectations in August, ADP data showsPrivate payrolls miss expectations in August, ADP data shows
Read more »
Job Scare: ADP Says Businesses Added Just 99,000 Jobs In August, Manufacturing Jobs ShrankSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
ADP Employment Report expected to show 145K new jobs in US private sectorThe Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for August on Thursday.
Read more »
Weekly Horoscope: August 25 - August 31See what this weekly horoscope has in store for you, including why the end of Mercury retrograde doesn't mean we're totally out of the woods.
Read more »