Good news and bad news. Economists were predicting the ADP employment figure for August would rise by about 100,000. The bad news - it only increased by 91,000. The good news - it increased.
The report “suggests that the trend in employment moderated somewhat in August at a pace below what would be consistent with a stable unemployment rate,” said Joel Prakken, chairman of Macroeconomic Advisers, which produces the report from anonymous payrolls data supplied by Automatic Data Processing Inc. Ya think?
The chart below illustrates the employment report released today showing that increase of 91,000 private-sector payrolls in August. These numbers suggest a modest employment growth. So.....I'm thinking MODEST is better than nothing................! What about you?
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