US companies continued to add jobs back in August, but at a slower pace than economists expected as the recovery from the coronavirus pandemic recession slows.
US private payrolls rose 428,000 in August, according to the ADP monthly employment reported released Wednesday. That fell short of the median economist estimate that US companies would add back 1 million jobs during the month, according to Bloomberg data.
“The August job postings demonstrate a slow recovery,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, in a press release. “Job gains are minimal, and businesses across all sizes and sectors have yet to come close to their pre-COVID-19 employment levels.”
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The bulk of the jobs added back during the month were