ADP National Employment Report: Private Sector Employment Increased by 54,000 Jobs in August; Annual Pay was Up 4.4%
1. Private sector added 54,000 jobs in August, below expectations. 2. Yearly pay growth stands at 4.4% for existing employees. 3. Leisure and hospitality sectors showed strong hiring despite broader slowdown. 4. Hiring slowdown attributed to labor shortages and consumer uncertainties. 5. Upcoming ADP reports will reflect ongoing employment trends.