Private Sector Job Growth in August Well Below Forecast, ADP Says

Last month saw the smallest job growth since January 2021, with actual job losses concentrated in a few sectors, according to the report.

Home Depot customers walk by a "Now Hiring" sign in San Rafael, Calif., on March 8, 2024. Justin Sullivan/Getty Images

Private companies in the United States hired just 99,000 workers last month, fewer than the downward-revised 111,000 in July and well below the market expectation of 145,000, according to payroll data firm ADP.

This underperformance makes August the weakest month for job growth since January 2021, ADP said in its national employment report published Sept. 5.