“Cooling US labour market”; ADP August report undershoots estimates

30 August 2023

 

Summary: ADP payrolls up 177,000 in August, less than consensus expectations; July revised down by 12,000; NAB: another piece of evidence of a cooling US labour market; positions up in small, medium and large businesses; little over 85% of gains in services sector, led by education/health services sector. The ADP National Employment Report is a monthly report which provides an estimate of US non-farm workers in the private sector. Publishing...

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