Story developing. Stay tuned for updates here
The numbers: Private payrolls rose by 177,000 in August, down from a revised 371,000 in the prior month, according to the payroll services firm ADP on Wednesday.
Economists polled by The Wall Street Journal had forecast a gain of 200,000 private sector jobs in August.
The July total of jobs added was revised from 324,000.
What ADP said: “This is a pretty solid report,” said Nela Richardson, chief economist at ADP.
“After two years of exceptional gains tied to the recovery, we’re
moving toward more sustainable growth in pay and employment as the economic effects of the pandemic recede,” she added.
