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ADP private payrolls miss
(Flickr / Public Information Office)
Private payrolls grew less than expected in August, at 190,000, according to ADP Research Institute.
Expectations were for the report to show that private payrolls grew by 200,000.
July's print was revised lower, to 177,000 from 185,000.
This data comes ahead of the official jobs report from the Bureau of Labor Statistics on Friday. It's a huge one, given what it will say about how the US economy is performing and what this means for the prospects of an interest rate hike from the Federal Reserve this year.
Several experts have warned, however, that the ADP report is not to be used as a predictor of the official numbers.
"Overall, we place limited weight on the ADP employment numbers, given their history of frequent revisions," Barclays wrote in a note to clients. "We look to Friday’s official employment report from the Labor Department as a more reliable indicator of US labor markets."
Here are the recent private payrolls numbers:
(ADP)
And, broken down by industry:
(ADP)
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