ADP August Jobs Growth Seen Near 50,000 as Payrolls May Outpace Private Hiring Again
Updated
Updated · continuumeconomics.com · Aug 25
ADP August Jobs Growth Seen Near 50,000 as Payrolls May Outpace Private Hiring Again
2 articles · Updated · continuumeconomics.com · Aug 25
Summary
50,000 is the expected gain in ADP’s August U.S. employment report due Sept. 2, pointing to another subdued month after July’s 44,000 increase.
11,750 in ADP’s four-week average through Aug. 8 implies that pace, while recent private payrolls have run weaker at 30,000 gains in both June and July.
Leisure and hospitality—down 11,000 in July’s ADP report—may improve in August, but analysts see less rebound potential there than in the government payrolls data.
Services are expected to add about 50,000 jobs again, led by education and health despite some slowing, while goods are seen flat and manufacturing up 5,000 for a fourth straight increase.
The gap matters because payrolls have recently underperformed ADP largely due to leisure and hospitality declines of more than 40,000, a drag expected to ease in August.