• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 30
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»US Job Growth Drops Sharply, Signaling Worrying Trend For American Economy
Business

US Job Growth Drops Sharply, Signaling Worrying Trend For American Economy

August 30, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
U.S. Economy Adds More Jobs Than Expected In May
Share
Facebook Twitter LinkedIn Pinterest Email

Private employment data released Wednesday showed a huge drop in job growth in August, just days before the government releases its own job growth estimates, according to data from private payroll firm ADP.

Private employment growth dropped significantly from 371,000 private jobs in July to 177,000 in August, just days before the Bureau of Labor Statistics (BLS) is set to release its employment data, according to ADP. The numbers were below expectations, with economists expecting a drop to 200,000 for the month of July, according to MarketWatch. (RELATED: Major Auto Union Authorizes Strike For 150,000 Workers)

“This month’s numbers are consistent with the pace of job creation before the pandemic,” Nela Richardson, chief economist for ADP, said, according to the ADP report. “After two years of exceptional gains tied to the recovery, we’re moving toward more sustainable growth in pay and employment as the economic effects of the pandemic recede.”

Data from the ADP has contrasted the BLS data in previous months, with the ADP initially recording 324,000 added jobs in July, compared to the 187,000 new jobs announced for the month by the BLS. The difference for June was even greater, with the ADP estimating 497,000 new private jobs while the BLS initially estimated 209,000 new jobs.

ADP employment change

Actual: 177K
Prior: 371K

Slam on the brakes pic.twitter.com/1p4It6SVVp

— Don Johnson (@DonMiami3) August 30, 2023

The drop compared to previous months was led by a decrease in job creation in the leisure and hospitality sector, accounting for 30,000 fewer jobs created than in the previous month, according to the ADP. Regionally, the Southern U.S. performed the best, adding 119,000 private jobs, while the Midwestern U.S. lost a total of 15,000 private jobs.

See also  US Republicans push for security review of China-linked battery company

Annual pay for private employees was up by 5.9% compared to last year, according to the ADP. For those who moved jobs, it increased 9.5% for the month.

The number of private jobs added in July was revised down from 324,000 to 371,000 private jobs, according to the ADP.

Jerome Powell, chair of the Federal Reserve, said on Friday in a speech at the Jackson Hole Economic Symposium that if the labor market remains hot and economic growth persists, then the Fed would have to continue raising rates. The Fed currently has the federal funds rate sitting in a range of 5.25% and 5.50%, bringing it to the highest level since 2001 after a series of eleven rate hikes that began in March 2022.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

American drops Economy growth Job sharply Signaling Trend Worrying
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Celine Dion ‘Likely to Never Sing in Public Again’: Report

August 19, 2023

Useful Tips On How To Write A Great Health And Wellness Blog

October 26, 2023

Dow Jones Futures Fall After Hot Inflation, Tesla FSD Recall Hit Market Rally; DoorDash Runs On Earnings

February 17, 2023

A Roadmap To Responsible Living

April 17, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Incompetent Oscars Really Blew the In Memoriam Segment

March 19, 2023

‘Batman’ Star Robert Pattinson, Worth $100 Million, Says He Suffers Anxiety Over Lack of Job Security in Film Industry

October 3, 2023

Church’s pro-life sign vandalized in Maine with ‘queer love’ and pro-abortion messages

September 13, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.