ADP: US Private Payrolls Rise Less Than Expected in August

• US private sector added 38,000 jobs in August, below forecasts.
• Smallest monthly increase since the start of the year.
• Follows July’s upwardly revised 46,000 jobs.

Private sector employment in the United States increased by 38,000 jobs in August, according to a report released by ADP on Wednesday. This figure was below economists’ expectations, which had anticipated a gain of approximately 47,000 to 48,000 jobs. The August increase also represented a deceleration from July’s upwardly revised 46,000 jobs and marked the smallest monthly rise in private payrolls since the beginning of the year. Job gains were primarily concentrated in specific sectors, such as health care, suggesting a stable but moderating labor market.