In August, the U.S. private sector added 99,000 jobs, marking the lowest increase in over three years.
In August, the U.S. private sector added 99,000 jobs, marking the lowest increase in over three years and falling short of expectations. This decline continues a trend of slowing job growth for the fifth consecutive month. Wage growth remained stable, with 4.8% pay increases for job-stayers and 7.3% for job-changers. The report suggests potential Federal Reserve interest rate cuts due to the underwhelming job figures. The official employment report is expected soon.
September 05, 2024
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