U.S. Private Employers Add 38,000 Jobs in August as Base Pay Rises 3.2%
Updated
Updated · PR Newswire · Sep 2
U.S. Private Employers Add 38,000 Jobs in August as Base Pay Rises 3.2%
3 articles · Updated · PR Newswire · Sep 2
Summary
Private-sector payrolls rose by 38,000 in August, ADP said, marking the slowest hiring pace since January while July's gain was revised up to 46,000.
Goods-producing industries lost 10,000 jobs and services added 48,000, with manufacturing down 17,000 and professional services down 16,000, partly offset by education and health services adding 45,000.
Base pay increased 3.2% from a year earlier and gross pay rose 4.7%; for job-stayers, base pay held at 3.0% and gross pay at 4.4%.
Job-changers still saw faster gains, but those eased to 4.7% in base pay and 7.3% in gross pay, extending ADP's view that pay growth has been decelerating for four years.
ADP said its revamped Pay Insights now adds base-pay tracking, broader metro data and distribution measures, offering a more detailed read on labor-market tightness, inflation pressure and consumer income growth.