Quick Interpretation of the U.S. August ADP Employment Report

In August, the ADP employment number in the United States increased by 54,000, which is lower than the expected value of 68,000. The previous value was revised from 104,000 to 106,000. The data shows that the ADP employment number in the U.S. for August fell short of expectations, consistent with other evidence indicating weak labor demand. According to Automatic Data Processing, Inc. (ADP): despite a month-on-month slowdown in overall hiring growth, the leisure and hospitality industry and construction industry performed strongly. The wage growth in August remained basically flat, with wages for employed workers increasing by 4.4% year-on-year, and wages for job switchers increasing by 7.1% year-on-year