U.S. Firms Add Fewer Jobs Than Forecast in August, ADP Data Show

U.S. companies added fewer jobs than expected in August, suggesting the labor market rebound remains gradual, with employment well below pre-pandemic levels.

Businesses’ payrolls increased by 428,000 after an upwardly revised 212,000 in July, according to ADP Research Institute data released Wednesday. The median projection in a Bloomberg survey of economists called for a 1 million gain for the latest month.

The latest data suggest companies continue to hire at a more moderate pace than immediately following the lifting of business lockdowns months ago. Amid widespread joblessness, it will take sustained demand growth to rebuild the labor market to ...