Economic Buzz: US private sector job growth eases in August

A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by less than expected in the month of August.

ADP said private sector employment rose by 54,000 jobs in August after jumping by an upwardly revised 106,000 jobs in July.

ADP noted the leisure and hospitality and construction sectors performed well despite a broader month-over-month slowdown in hiring.

The report also said pay gains were little changed in August, with year-over-year pay growth at 4.4 percent for job-stayers and at 7.1 percent for job-changers.

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