Macro Brief: ADP Employment


Private sector employment increased by 132,000 jobs in August and annual pay was up 7.6%

  • The 132K increase in private payroll jobs was well below consensus estimates of +225K
  • Payroll increases were seen across all company sizes
  • Largest increases were in the Leisure & Hospitality (+96K) and Trade, Transportation, & Utilities (+53K)
  • U.S. Private Employment appears to be slowing dramatically
  • ADP Report Press Release

Sign Up