US Private Sector Adds 99,000 Jobs in August, Lowest Since 2021; Jobless Claims at 227K

Sep 5, 2024, 12:17 PM

The latest ADP National Employment Report reveals that the U.S. private sector added 99,000 jobs in August, significantly below the expected 145,000. This marks the lowest monthly job growth since January 2021. The previous month's job gains were revised downward to 111,000 from 122,000. The data indicates a continued slowdown in job creation, with August being the fifth consecutive month of declining job growth. Initial jobless claims were 227,000, slightly below the forecast of 230,000.