A new report from ADP suggests that employers are continuing to add jobs—though fewer new employees were added to the payroll in August compared with July. According to the ADP National Employment Report, although there were 270,000 new jobs added to the economy in July, only 132,000 jobs were added in August, representing a reduction in growth of more than 50 percent.
The new jobs push total employment in the private sector to 121,571,000, exceeding pre-pandemic levels for the first time. Still, not all industries saw equal job gains. For instance, while the leisure and hospitality sector added 96,000 new jobs, there was actually a reduction of around 20,000 jobs within financial services.
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