Labor market growth slows dramatically in August with U.S. adding just 54,000 jobs, ADP says
1. Private sector added 54,000 jobs in August, below 75,000 forecast. 2. Labor market uncertainty increases with fewer job openings and sector weaknesses. 3. Leisure and hospitality jobs surged by 50,000, countering losses elsewhere. 4. Wage growth steady, with year-over-year increases of 4.4% and 7.1%. 5. Focus shifts to government jobs report expected to show similar trends.