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ADP: US Private Sector Employment Increased by 54,000 Jobs in August; Annual Pay was Up 4.4%
Private sector employment increased by 54,000 jobs in August and pay was up 4.4 percent year-over-year according to the August ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States. ADP's Pay Insights captures nearly 14.8 million individual pay change observations each month. Together, the jobs report and pay insights use ADP's fine-grained data to ... (full story)
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Labor market growth slows dramatically in August with U.S. adding just 54,000 jobs, ADP says
U.S. private sector hiring rose less than expected in August, data released Thursday shows, offering the latest indication of trouble in the labor market. Private payrolls increased by just 54,000 in August, according to data from processing firm ADP published Thursday morning. That’s below the consensus forecast of 75,000 from economists polled by Dow Jones and marks a significant slowdown from the gain of 104,000 seen in the prior month. “The year started with strong job growth, but that momentum has been whipsawed by uncertainty,” said Nela Richardson, ADP’s chief economist, in a press release. Richardson ... (full story)
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