US President Donald Trump arrives to speak outside Mariotti Building Products in Old Forge, Pennsylvania, on Aug 20, 2020. The US private sector created 428,000 new jobs in August, payroll services firm ADP said today, far less than analysts expected.
Private payrolls increased by 428,000 jobs last month. Data for July was revised up to show hiring gaining 212,000 jobs instead of the initially reported 167,000. The revision still left the July tally out of alignment with the 1.462 million rise in private employment reported by the government last month.The ADP report, jointly developed with Moody's Analytics, has fallen short of the government payrolls count since May because of methodology differences.
Moody's Analytics chief economist Mark Zandi told reporters he expected the gap between the ADP and BLS private payrolls narrowed in August. The government is scheduled to publish August's employment report on Friday. Data from Kronos, a workforce management software company, showed an increase in shifts in August, but the rise was heavily influenced by the late summer return to school.