U.S. August ADP nonfarm employment 54,000…well below expectations

JOON HYOUNG LEE

Summary

U.S. August nonfarm payrolls were announced at 54,000, significantly below experts' expectations.
This weakness in the employment figures was reported to be 52,000 lower compared with the revised figure for the previous month.
The ADP employment report is referenced as a leading indicator for the official employment report, but it does not necessarily match government statistics.

Last month, the U.S. private employment indicator came in well below market expectations.

According to the Automatic Data Processing (ADP) employment report on the 4th (local time), the number of nonfarm employees in the U.S. last month increased by 54,000 from the previous month. This figure is 19,000 below the experts' forecast (73,000). Compared with the revised July figure (106,000), it is 52,000 fewer.

The ADP employment report is typically released about two days ahead of the U.S. Department of Labor's Bureau of Labor Statistics (BLS) employment report and is regarded as a kind of 'preview'. However, it does not always move in the same direction as the government's official statistics.

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