U.S. Economy Adds 99,000 Jobs in August, Smallest Gain Since 2021

Sep 6, 2024, 12:32 PM

The U.S. economy added 99,000 private sector jobs in August 2024, according to the ADP National Employment Report, falling short of the expected 145,000 jobs. This marks the lowest monthly job gain since September 2023 and follows a downward revision for July's job gains to 111,000 from the initially reported 122,000. The report indicates a continued slowdown in job creation, with August's figures representing the smallest increase since 2021. Gains were observed in sectors such as education, health, and construction, while losses were noted in business services and manufacturing. Job creation has slowed for the fifth straight month.