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Private sector hiring increases by less than anticipated in August, ADP says

Wed, 2nd Sep 2020 13:26

(Sharecast News) - Hiring in the US increased at a slower-than-expected pace last month, the results of a closely-followed survey revealed.
Consultancy ADP's non-farm private sector payrolls reports showed a 428,000 gain in employment.

That was less than the 900,000 person increased that economists had forecasts.

It was the largest enterprises, those with more than 1,000 staff, that reported the biggest increase in payrolls, of 270,000, followed by a 79,000 rise among medium-sized firms, which are those employing between 50 to 499 persons.

By sectors, services accounted for the lion's share of hiring, with companies adding 389,000 staff, against just 40,000 among goods-producing firms.

Leisure and hospitality reported the biggest rise, which reached 129,000, while healthcare and social assistance added 85,000.

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