ADP data shows some cooling in labor market in August

Private payrolls rose by 177,000 in August, the smallest increase since March, driven by slower job growth in the leisure and hospitality categories, according to ADP data, suggesting a slight slowdown in the economy.

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8/22/2023

Half a Million US Jobs at Risk of Vanishing in Payroll Revision

US payrolls growth in the year through March is forecasted to be weaker by an estimated 500,000 jobs, according to a preliminary benchmark revision, however, average job growth is expected to remain strong at around 300,000 payrolls per month and economists do not anticipate a significant shift in labor market conditions.

8/30/2023

U.S. job growth slowed sharply to 177,000 in August, below expectations, ADP says

Job creation in the US slowed in August, indicating that the strong economy could be starting to weaken under pressure from higher interest rates. Private employers added 177,000 jobs, well below the previous month's total of 371,000. Pay growth also slowed, suggesting more sustainable growth as the effects of the pandemic recede. Investors and economists remain uncertain about the future of US inflation and whether the economy can continue to grow without a significant slowdown.

8/30/2023

Weaker-Than-Expected August Job Growth Reported—Labor Market Officially At Pre-Pandemic Levels

Private employers in the U.S. added fewer jobs than expected in August, indicating a slowdown in the labor market and suggesting that the rapid job growth seen in recent years is no longer sustainable.

8/30/2023

ADP National Employment Report: Private Sector Employment Increased by 177,000 Jobs in August; Annual Pay was Up 5.9%

Private sector employment increased by 177,000 jobs in August with an annual pay increase of 5.9 percent, signaling sustainable growth as the effects of the pandemic recede.

9/1/2023

US adds 187K jobs in August, jobless rate rises to 3.8 percent

The US added 187,000 jobs in August, but the unemployment rate rose to 3.8 percent, indicating a plateau in the labor market as the Federal Reserve considers another interest rate hike.

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Posted 8/30/2023, 12:17:00 PM

ADP data shows some cooling in labor market in August

marketwatch.com

Relevant topic timeline:

8/22/2023

Half a Million US Jobs at Risk of Vanishing in Payroll Revision

8/30/2023

U.S. job growth slowed sharply to 177,000 in August, below expectations, ADP says

8/30/2023

Weaker-Than-Expected August Job Growth Reported—Labor Market Officially At Pre-Pandemic Levels

8/30/2023

ADP National Employment Report: Private Sector Employment Increased by 177,000 Jobs in August; Annual Pay was Up 5.9%

Private sector employment increased by 177,000 jobs in August with an annual pay increase of 5.9 percent, signaling sustainable growth as the effects of the pandemic recede.

9/1/2023

US adds 187K jobs in August, jobless rate rises to 3.8 percent

The US added 187,000 jobs in August, but the unemployment rate rose to 3.8 percent, indicating a plateau in the labor market as the Federal Reserve considers another interest rate hike.