Sept. 4 (UPI) -- The rise in U.S. private employment slowed considerably in August, rising less than expected by 54,000 jobs and is up 4.4% over last year, according to ADP.
The ADP Employment Report for August showed the slight gain, which is much lower than forecast. Expectations of economists polled by Dow Jones were a rise of 75,000 private payrolls, showing an intense slowdown of hiring.
The previous month showed a revised gain of 106,000, almost double August's 54,000.
"The year started with strong job growth, but that momentum has been whipsawed by uncertainty," said Dr. Nela Richardson, ADP chief economist, in a press release. "A variety of things could explain the hiring slowdown, including labor shortages, skittish consumers, and AI disruptions."
Jobs in trade, transportation and utilities were down 17,000 from last month. Education and health services dropped 12,000.
