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.

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Relevant topic timeline:

8/26/2023

Slower US Job Growth to Support Fed Patience

Employment growth in the US likely cooled and wage increases moderated in August, reducing the urgency for another interest-rate hike by the Federal Reserve and tempering inflation risks.

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 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.

8/30/2023

ADP jobs report cools more than expected in August

The US economy added 177,000 jobs in August, slightly below expectations, but indicating sustainable growth in pay and employment as the effects of the pandemic diminish.

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.

8/4/2023

The US job market continues its cooldown, adding just 187,000 positions last month

The US job market added 187,000 jobs in July, returning to pre-pandemic levels and indicating a gradual cooling off of the labor market, with positive economic news and a steady unemployment rate of 3.5%.

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Posted 8/30/2023, 12:15:00 PM

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.

prnewswire.com

Relevant topic timeline:

8/26/2023

Slower US Job Growth to Support Fed Patience

Employment growth in the US likely cooled and wage increases moderated in August, reducing the urgency for another interest-rate hike by the Federal Reserve and tempering inflation risks.

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 data shows some cooling in labor market in August

8/30/2023

ADP jobs report cools more than expected in August

The US economy added 177,000 jobs in August, slightly below expectations, but indicating sustainable growth in pay and employment as the effects of the pandemic diminish.

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.

8/4/2023

The US job market continues its cooldown, adding just 187,000 positions last month