Employment in the American private sector increased with less than expected, during August, according to data issued Thursday, in a new reference to the hassle of the labor market.
ADP data to process salary statements show that the number of jobs in the private sector increased by only 54 thousand jobs, during August, compared to the expectations of the Dow Jones analysts at 75 thousand jobs, which is a noticeable slowdown in the gains of the previous month of 104 thousand jobs.
“The year started with a strong momentum in job growth, but this momentum was subjected to setbacks due to uncertainty,” Nella Richardson, chief economist at ADP, said in a press statement.
The trade, transportation and facilities sectors recorded the largest losses, with a loss of 17 thousand net jobs, followed by the education and health services sectors with a loss of 12 thousand jobs, but these losses met with strong growth in the entertainment and hospitality sector, which added 50 thousand jobs during the month.
As for the growth of wages, he remained stable in August, when the salaries of workers who remained in their jobs increased by 4.4% on an annual basis, while those who moved to new jobs increased 7.1% for the same period.
The “ADP” report enhances concerns about the labor market, as it showed the job and the rotation of employment (JOLTS), issued on Wednesday, that the number of vacancies in July was among the lowest levels since 2020.
The attention is now turning to the upcoming official report of the jobs scheduled to be issued on Friday morning. Economists expect that government data will show the addition of 75,000 non -agricultural jobs in August, in line with the previous month, with the unemployment rate to 4.3% from 4.2%.
