US private-sector hiring picks up pace over four weeks to Aug 29
Weekly hiring gains rose to 16,250 from 12,000 in the prior period, even as August's monthly print came in weaker.
Published
US private-sector employment rose by an average of 16,250 jobs per week in the four weeks to August 29, up from 12,000 in the prior period, according to the data.
The pickup in the weekly average came even as ADP's August report showed private employers added 38,000 jobs for the month, below what economists had expected.
The gap between the faster weekly pace and the softer monthly total means the figures do not point clearly in one direction. Investors watching for signs of labor market strength or weakness will need further data to tell whether hiring is accelerating or whether recent weeks reflect short-term swings rather than a change in demand for workers.