ADP Predicts So-So Payroll Gains In August; Others Not So Sure

Private payrolls rose 91,000 in August, according to the latest ADP National Employment Report.

If correct, that’d be slightly less than the growth from June to July, which was approximately 110,000.

Most of the job growth came from small and medium businesses (which ADP defines as up to 49 workers, and 50-499 workers, respectively), with those companies adding a total of 88,000 jobs. Services fared much better than goods, with the service sector marking its 20th consecutive month of job gains.

ADP’s monthly report covers only private employment. The federal government’s jobs report, which includes both public and private-sector employment, is due Friday. Economists polled by Bloomberg predict that that report will say the economy added just 75,000 jobs, a Reuters forecast concurs.