Credit: Adobe Stock

A new report from ADP suggests that employers are continuing to add jobs – though fewer new employees were added to the payroll in August compared to July. According to the ADP National Employment Report, while there were 270,000 new jobs added to the economy in July, only 132,000 jobs were added in August, representing a reduction in growth of over 50%. 

The new jobs push total employment in the private sector to 121,571,000, exceeding pre-pandemic levels for the first time. Still, not all industries have seen equal job gains. For instance, while the leisure and hospitality field added 96,000 new jobs, there was actually a reduction of around 20,000 jobs within the financial services sector. 

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2022 ALM Global, LLC. All Rights Reserved.