Private-sector payrolls grew by 38,000 in August, human-resources firm ADP estimated in its latest monthly report.
Goods-producing businesses shrank their headcounts by 10,000 in the month, including a steep 17,000 decline in manufacturing. Services providers expanded payrolls by 48,000, with solid gains in leisure and hospitality, education and health services, and financial activities.
Economists surveyed by Econoday had expected to see 48,000 new private-sector jobs. The estimates are derived from the anonymized payrolls of the company’s corporate clients.
The Department of Labor will report its estimate of job growth on Friday. Economists expect payrolls will grow by 55,000 after the prior month’s contraction of 23,000.
Read the full article here