ADP: U.S. Economy Adds 190,000 Private Sector Jobs In August

joPrivate sector employment increased by 190,000 from July to August, according to a new August employment report from ADP.

Economists from briefing.com were forecasting private sector job gains of 220,000 from July to August.

“Recent global financial market turmoil has not slowed the U.S. jobs market, at least not yet. Job growth remains strong and broad based, except in the energy sector, which continues to shed job. Larger companies also remain more cautious in their hiring than smaller ones”, said Mark Zandi, chief economist at Moody’s Analytics.

ADP revised down July’s employment change from 185,000 to 177,000.

ADP’s monthly private sector payroll report is a precursor to Friday’s non-farm payroll report from the Bureau of Labor Statistics.

-Johnathan Schweitzer

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