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MNI BRIEF: US Hiring Slows To 'Sustainable' Pace In Aug -ADP


U.S. hiring has finally made a transition from "exceptional to sustainable" in August, ADP chief economist Nela Richardson said Wednesday after the ADP Employment Report showed a gain of 177,000 new private payrolls last month, slowing markedly from 371,000 in July and coming in line with the pre-pandemic pace.

Wage growth also decelerated in August, with job changers seeing a median change in annual pay of 9.5%, below 10% for the first time since July 2021, and job stayers saw an increase of 5.9%.

"I think of the wages as a bridge between the labor market and inflation. Now that bridge is showing a more moderated pace of pay growth that points to a slowdown in inflation," Richardson told reporters on a call.

Source: ADP (

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MNI Washington Bureau | +1 202-371-2121 |

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