Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

ADP: U.S. Added Only 428k Private Sector Jobs in August, vs 950k Expected

Published 09/02/2020, 08:15 AM
Updated 09/02/2020, 08:19 AM
© Reuters.

By Geoffrey Smith 

Investing.com -- The rebound in the U.S. labor market appears to have run out of steam in August. 

The private sector added only 428,000 net new jobs in the month, according to a report released on Wednesday by payrolls processor ADP. That's less than half of the 950,000 expected, according to consensus forecasts. 

“The August job postings demonstrate a slow recovery,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Job gains are minimal, and businesses across all sizes and sectors have yet to come close to their pre-COVID-19 employment levels.”

The news is a bad omen for the official government labor market report for August, which is due on Friday. It's the second month in a row that the ADP report has come in way short of expectations, albeit ADP revised up its July number by some 45,000 to show net job growth of 212,000 that month.

Latest comments

why Gold is going down?
Check how gold behaved in March
Its never wise to buy the dollar.
Trying to slow the bulls down a bit?
Yeah, QQQ futures just dropped almost 80 whole basis points and so I bought the dip.
Ballsy move.  Be careful, my friend.
Covid-19 has revealed a pre-existing pandemic of poverty that benefits the richPhilip Alston
 ...or fake a trillion dollars, just a few keystrokes and flips of some bits at the FED. The economy and jobs are no longer of concern.
clearly you've never read your history. They call that inflation of the money supply. it always has bad consequences for people. talk about poverty!
 Except for those with accumulated wealth and asset holders, they are doing just find at the moment and always have good consequences each morning when the market opens.
A bad omen my BS. Last month ADP number was +212k but the monthly job number came in at +1.763M added. When was last time the ADP predicted anything?
+252612993266
YES!!! Legions of the unemployed for the win! Weaker employment numbers means a weaker USD means the QQQ party all the way to 20,000 will continue. Thanks to you huddled masses, a few million more of you out of work and I will buy a bigger mansion and maybe even hire some of you to cut the grass or fetch me another spritzer. Tut Tut Tut.
The 925,000 was a little over blown after 213,000 in July. The actual of 425,000 was really good doubling July. The 925,000 was nothing more than the Trump administrations effort to grandstand the job growth for Trumps reelection. The recovery in jobs will be slow especially with Trump choosing to ignore the pandemic, people just won't risk exposure until better medical treatments are available, and not necessarily a limitedly effective vaccine.
425k is good???. u mean this number is juz referring to California state alone.
even zims economy is better than the us
Time to take some profits , the ride was nice , but back to reality now
Jobs going, stimulus coming, bullish increasing !
Pelosi and the rest of the do nothing's continue on their path to nowhere.
Nasdaq gained by 3% good news to us trading this fundamental news 😊😊😊😊
And im somehow supposed to feel that this is terrible economic news?
of cos not its good news. cos more printing again haha. and more money will be given out.
Previous predicted number 160kish. This month prediction almost a million! That seems logical🤔😆
That is bullish move for gold.
Nasdaq up 3% tonight on this bullish news.
Super bullish. Buy buy buy, not a bubble!
Your expected number is fabricated by market manipulator. I have my own expected number.
yeah i expected 200k 100% over expectation BULL!!!!
Lol after tens of millions were left unemployed, you were expecting a paltry 200k?
Bullish news again
yup better than expected
thanks , bullish
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.