U.S. Private Payrolls Add 38,000 Jobs in August as ADP Misses 48,000 Estimate
Updated
Updated · Fox Business · Aug 31
U.S. Private Payrolls Add 38,000 Jobs in August as ADP Misses 48,000 Estimate
3 articles · Updated · Fox Business · Aug 31
Summary
ADP reported 38,000 private-sector jobs added in August, down from a revised 46,000 in July and the weakest gain since January.
The miss undershot economists’ 48,000 forecast, reinforcing signs of a softer summer labor market after stronger hiring in the spring.
Education and health services led with 45,000 new jobs, while leisure and hospitality added 16,000; manufacturing lost 17,000 and professional and business services shed 16,000.
Large employers added 34,000 jobs, mid-sized firms were flat and small businesses gained 3,000, while pay rose 4.4% for job stayers and 7.3% for job changers.
ADP said hiring has turned choppy as demographic shifts, persistent inflation and AI reshape wage growth and labor demand.