U.S. private employers added back far fewer jobs than expected in August as the Delta variant’s spread began to take its toll on the pace of the labor market’s recovery.
Private payrolls rose by 374,000 in August, ADP said in its closely watched monthly report on Wednesday. Consensus economists were looking for private payrolls to grow by 625,000, according to Bloomberg data. In July, private sector jobs increased by 326,000, according to the firm’s revised monthly print.
By sector,…
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