Economic Buzz: US Private Sector Jobs Growth Below Expected Levels

1 Sep 2022 , 09:33 AM

Payroll processor ADP released a report showing private sector employment in the US increased by much less than expected in the month of August. The private sector employment rose by 132,000 jobs in August after jumping by 268,000 jobs in July. The relatively modest increase in employment in August reflected notable job growth in the leisure and hospitality sector , which added 96,000 jobs. The report showed employment in the goods-producing sector edged up by 23,000 jobs, as employment in the manufacturer crept up by 21,000 jobs and employment in the construction sector inched up by 2,000 jobs. ADP Also said the year-over-year change in annual pay was 7.6 percent in August. Powered by Commodity Insights