From ADP: ADP National Employment Report: Private Sector Employment Increased by
99,000 Jobs in August; Annual Pay was Up 4.8%
99,000 Jobs in August; Annual Pay was Up 4.8%
Private sector employment increased by 99,000 jobs in August
and annual pay was up 4.8 percent year-over-year, according to the July ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”). …“The job market’s downward drift brought us to slower-than-normal hiring after two years of outsized
growth,” said Nela Richardson, chief economist, ADP. “The next indicator to watch is wage growth, which
is stabilizing after a dramatic post-pandemic slowdown.”
emphasis added
This was below the consensus forecast of 144,000. The BLS report will be released Friday, and the consensus is for 164,000 non-farm payroll jobs added in August.