Reported about 1 month ago
ADP's latest report indicates that the private sector added just 99,000 jobs in August, the lowest since January 2021 and well below economists' expectations. This marks a continued trend of slowing payroll additions over the past five months, reflecting a cooling labor market. Despite the decline, factors such as low job turnover rates persist, suggesting that employees are less likely to leave their jobs. This slowdown has significant implications for Federal Reserve interest rate decisions amid easing inflation.
Source: YAHOO