U.S. Added Only 428k Private Sector Jobs in August, vs 950k Expected By Investing.com

© Reuters.

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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