US Firms Create 1 Lakh Jobs – New ADP Data Release!!! US companies increased hiring numbers at a slightly slower pace last August, according to reports. That said, a private report suggests that this hiring has slowed due to high inflation and rising interest rates in the country.
Business payrolls rose by 132,000 this month after a gain of nearly 270,000 in July, according to data from the ATP Research Institute in conjunction with the Stanford Digital Economy Lab. And the median forecast in a Bloomberg survey of economists called for a gain of 300,000 in private employment.
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Meanwhile, wage gains in leisure and hospitality, trade, transportation and utilities, as well as construction, reported significant increases in employment. At the same time job losses were reported in finance, information, business services and education and health services in US.
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