ADP jobs report shows paltry growth again
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Economists are looking to Friday’s jobs report with trepidation -- if the nation again adds a paltry number of jobs, fears of another recession will grow. But August job growth isn’t likely to be impressive, according to the ADP National Employment Report, released Wednesday, which shows that employment in the private sector rose by just 91,000.
The average job growth during the previous three months has been just 72,000, which leaves millions still out of work. The nation added just 117,000 jobs in July.
ADP’s National Employment Report, which focuses only on the private sector, showed gains in construction, which had shrunk for three months in a row. The service-providing sector provided the most employment growth. Employers with payrolls of fewer than 50 workers added the most jobs in August, while employers with more than 500 workers added the fewest.
The jobs report from the Bureau of Labor Statistics will include both private and government jobs. Economists say the private sector needs to perform well to offset losses in state and local governments, which are shedding jobs.
The firm Challenger, Gray and Christmas said Wednesday that employers planned to cut 51,114 workers from payrolls in August, fewer cuts than they had made in July. The government sector has announced more than 100,000 job cuts this year, the firm said.
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-- Alana Semuels
