US Private Payrolls Rise 38,000 in August as Manufacturing Loses 17,000 Jobs
Updated
Updated · WTVB · Sep 2
US Private Payrolls Rise 38,000 in August as Manufacturing Loses 17,000 Jobs
3 articles · Updated · WTVB · Sep 2
Summary
ADP reported 38,000 private-sector jobs added in August, below the 48,000 economists expected and down from July’s revised 46,000, signaling the weakest hiring pace since January.
Education and health services added 45,000 jobs, but manufacturing lost 17,000 and professional and business services shed 16,000, with additional declines in trade, transportation, utilities, information, and mining.
Economists said the labor market remains in a slow-hire, slow-fire phase, but spring momentum has faded and immigration crackdowns, deportations, and lost work authorization may have further restrained August hiring.
Friday’s BLS report is expected to show private payrolls rose 45,000 and total nonfarm payrolls rebounded 56,000 after July’s 23,000 drop, while the unemployment rate is seen holding at 4.1%.