US private sector job growth slows to 38,000 in August
US private sector employers added 38,000 jobs in August, according to Automatic Data Processing, the weakest monthly increase since January.
Source: Sharecast
August's figure follows a revised 46,000 rise in July, but came in below expectations for a reading around 47,000, pointing to a broader cooling in labour‑market conditions.
Hiring remained firm in education and health care, which added 45,000 roles, while leisure and hospitality increased headcount by 16,000, construction by 12,000 and financial activities by 6,000.
However, several industries also cut jobs, including manufacturing, which shed 17,000 positions, professional services, which lost 16,000, and trade, transportation and utilities, natural resources and mining, and information, which all posted smaller declines.
Large companies added 34,000 jobs and small businesses increased staffing by 3,000. ADP said pay growth was unchanged during the month.
ADP's Dr Nela Richardson said: "Pay can tell us a lot about today's choppy hiring. To understand hiring patterns, you have to look deeply into where pay growth is accelerating, where it's slowing, and for whom. Once-predictable wage growth has been overtaken by the complexities of demographic change, persistent inflation, and AI's effects on jobs".
Reporting by Iain Gilbert at Sharecast.com
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