The payroll processing firm ADP says 163,000 people were
added to private sector payrolls in August. The estimate was for 190,000. July
payrolls were revised lower by 2,000 to 217,000.
"Although we saw a small slowdown in job growth, the
market remains incredibly dynamic," said Ahu Yildirmaz, vice president and
co-head of the ADP Research Institute. "Midsized businesses continue to be
the engine of growth, adding nearly 70 percent of all jobs this month, and
remain resilient in the current economic climate."
The report, which is derived from ADP's actual payroll
data, measures the change in total nonfarm private employment each month on a
seasonally-adjusted basis.
Weekly jobless claims fell by 10,000 to 203,000 last week.
That came in lower than the 214,000 estimate. The prior week remained unrevised
at 213,000.
The reports comes ahead of Friday’s big monthly jobs report
from the government.
The U.S. economy likely added 191,000 new nonfarm jobs last
month according to economists surveyed by Thomson Reuters. That would be 34,000
more than the 157,000 jobs created in July, but below the average monthly
increase of 203,000 over the previous 12 months.
The unemployment rate is expected to tick lower to 3.8
percent, from 3.9 percent.
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