đź“ť usncan Note: Labor Market Hits Brakes As Private Hiring Slows
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Topline
Employment in the U.S. private sector declined again in August, according to a report released Thursday by private payroll processing firm ADP, the latest signal of job market growth cooling as President Donald Trump awaits unemployment data amid a push for interest rate cuts.
The year started with “strong job growth,” though momentum has been “whipsawed by uncertainty,” economists said in a report.
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Key Facts
Private sector employment increased by 54,000 jobs in August, ADP reported, falling well below July’s 106,000 added jobs and consensus economist estimates of 85,000, according to FactSet.
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