U.S. Added Only 428k Private Sector Jobs in August, vs 950k Expected By Investing.com
By Geoffrey Smith
Investing.com — The rebound in the U.S. labor market appears to have run out of steam in August.
The private sector added only 428,000 net new jobs in the month, according to a report released on Wednesday by payrolls processor ADP. That’s less than half of the 950,000 expected, according to consensus forecasts.
The news is a bad omen for the official government labor market report for August, which is due on Friday.
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