US Firms Add 54,000 Jobs in ADP Data, Less Than Forecast

Hiring at US companies was less than forecast in August, consistent with other evidence that points to weaker demand for workers.

Private-sector payrolls increased by 54,000, roughly half the pace of the prior month, according to ADP Research data released Thursday. The median estimate in a Bloomberg survey of economists called for a 68,000 gain.

The report lines up with recent data that indicate the labor market is gradually cooling, marked by fewer job openings and softer wage gains. Job growth has slowed significantly in recent months, and it’s taking longer for unemployed people to find a new job. ...