“August private payrolls rose by 99,000, smallest gain since 2021 and far below estimates, ADP says”
September 9, 2024
“Companies hired just 99,000 workers last month, less than the downwardly revised 111,000 in July and below the consensus forecast for 140,000, according to payrolls processing firm ADP.
The report corroborates multiple data points recently that show hiring has slowed considerably from its blistering pace following the Covid outbreak in early 2020.
The ADP data showed that while hiring has decelerated significantly, only a few sectors reported actual job losses…”