- ADP Jobs Report: +374K vs. +500K consensus and +326K prior (revised).
- Goods producing sector added 45k jobs, while service producing sector added 329k jobs.
- “Our data, which represents all workers on a company’s payroll, has highlighted a downshift in the labor market recovery. We have seen a decline in new hires, following significant job growth from the first half of the year,” said Nela Richardson, chief economist, ADP.
- Mark Zandi, chief economist of Moody’s Analytics, said, “The Delta variant of COVID-19 appears to have dented the job market recovery. Job growth remains strong, but well off the pace of recent months. Job growth remains inextricably tied to the path of the pandemic.”
Wednesday, September 1, 2021
ADP jobs up 374K in August, missing estimates for 500K
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