The non-farm private sector gained 132,000 jobs in August, according to the ADP National Employment Report. This follows a revised July increase of 270,000 jobs.
Small businesses with fewer than 50 employees gained 25,0000 jobs. Medium-sized businesses with 50-499 employees gained 53,000, while large businesses increased by 54,000 jobs.
“Our data suggests a shift toward a more conservative pace of hiring, possibly as companies try to decipher the economy’s conflicting signals,” said Nela Richardson, chief economist, ADP. “We could be at an inflection point, from super-charged job gains to something more normal.”
Service-providing employment gained 109,000 jobs, driven by gains in the leisure & hospitality sector and Trade, transportation and utilizes sectors, which grew by 96,000 and 53,000 jobs respectively.
Goods-producing employment gained 23,000 jobs in August. The manufacturing sector didn’t gain any jobs and construction gained 21,000 jobs. Natural resources/mining also gained 2,000 jobs.