Economic Report News

"August Sees 177,000 Job Increase and 5.9% Rise in Annual Pay: ADP Report"

According to the ADP National Employment Report, private sector employment in the US increased by 177,000 jobs in August, with annual pay up 5.9% year-over-year. The report, based on actual payroll data of over 25 million US employees, provides a high-frequency view of the private-sector labor market. Job growth slowed, particularly in the leisure and hospitality sector, but overall numbers are consistent with pre-pandemic levels. Pay growth also decelerated, with job stayers experiencing a 5.9% increase and job changers seeing a 9.5% increase in annual pay.