MW:Private sector adds 176,000 jobs in August: ADP
By Ruth Mantell
WASHINGTON (MarketWatch) -- Private-sector employment growth slowed down in August, as employers added 176,000 jobs, Automatic Data Processing Inc. reported Thursday. Analysts polled by MarketWatch had expected an August gain of 185,000, compared with an originally estimated increase of 200,000 in July. On Thursday ADP revised July's gain to 198,000. Markets look to ADP's report on private-sector payrolls to provide some guidance on the U.S. Department of Labor's jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls. Economists expect the government to report Friday that nonfarm-payroll employment expanded by 170,000 in August, slightly higher than July's gain of 162,000.
