U.S. Firms in August Added Fewest Workers in 10 Months, ADP Says

[mahatmakanejeeves]

Source: Bloomberg

Business

U.S. Firms in August Added Fewest Workers in 10 Months, ADP Says

By Katia Dmitrieva

September 6, 2018, 8:16 AM EDT Updated on September 6, 2018, 9:00 AM EDT

American businesses in August added the lowest number of workers since October, as most industries had difficulty filling positions in a tight labor market, according to data released Thursday by the ADP Research Institute.

HIGHLIGHTS OF ADP EMPLOYMENT (AUGUST)

• Private payrolls increased by 163k (200k est.) after a downwardly revised 217k July advance (prev. 219k)

• Payrolls in goods-producing industries, which include manufacturing and construction, climbed 24k, also the lowest since October

• Service providers added 139k workers to payrolls

Key Takeaways

The data suggest companies may have taken a breather from hiring in August, as they could be worried about escalating trade disputes or facing difficulty recruiting employees amid a shrinking labor pool.

The ADP figures may lead some analysts to reassess estimates for job gains in Friday's employment report from the Labor Department. Before the ADP data, the median estimate for private payrolls in Friday's monthly government report was for a 195,000 gain. The report is based on ADP's payroll data, representing about 411,000 firms employing almost 24 million workers in the U.S.

Read more: https://www.bloomberg.com/news/articles/2018-09-06/companies-in-u-s-added-163-000-jobs-in-august-adp-data-show

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ADP National Employment Report August 2018

https://www.adpemploymentreport.com/2018/August/NER/NER-August-2018.aspx

ADP National Employment Report: Private Sector Employment Increased by 163,000 Jobs in August

Private-sector employment increased by 163,000 from July to August, on a seasonally adjusted basis.

Total Employment

Change in Nonfarm Private Employment



[CHART] Change in Nonfarm Private Employment

Historical Trend

Change in Total Nonfarm Private Employment



[CHART] Historical Trend - Change in Total Nonfarm Private Employment

[SWBTATTReg]

1. Don't know if this actually increased salaries/wages, but hope so. Or, is this a delayed action ...

on the part of markets to the rump agenda/idiotic actions? This up market has been around for over 9 years, so perhaps time for a breather?