The data comes as investors watch for signs of how quickly the Federal Reserve could bring down interest rates as inflation eases.
New data from ADP released Thursday showed the private sector added its fewest jobs in a month since January 2021, signaling a cooling labor market .for August showed 99,000 jobs were added in the month, well below economists estimates for 145,00 and fewer than the 122,000 jobs added in July. The August data marked the fifth straight month payroll additions had slowed from the month prior.
More signs of a slowing labor market were seen in a data release Wednesday from the Bureau of Labor Statistics. The Job Openings and Labor Turnover Survey showed there were 7.67 million jobs open at the end of July, a decrease from the 7.91 million seen in June. This marked the lowest number of job openings since January 2021.
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