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US Private Hiring Cools Sharply As Job Cuts ‘Surge’
US private sector employers added fewer than 100,000 jobs in August, ADP said Thursday.
The 99,000 headline print was the first sub-100,000 reading since January of 2021, the month after the government's nonfarm payrolls headline last printed in negative territory.
The ADP readout was below every estimate. The range, from two dozen economists, was 105,000 to 170,000.
The prior month's headline, already the weakest since January, was revised lower to 111,000 from 122,000. Between that revisi
