U.S. private employers added a smaller-than-expected number of jobs last month, furthering the trend of “choppy hiring” in the labor market, according to new data from payroll processor ADP.
Private payrolls grew by 38,000 in August, from an upwardly revised 46,000 in July, according to the report released on Sept. 2.
This marked the slowest pace of job growth since January and came in below the consensus estimate of 47,000.
While private-sector job creation has been positive all year, growth has softened since the springtime hiring spree.
August’s payroll gains were led by education and health services (45,000), followed by leisure and hospitality (16,000), construction (12,000), and financial activities (6,000)….