US private hiring cools

By Agence France-Presse

Sep 01, 2023 12:11 am

WASHINGTON, D.C.: Private sector hiring in the United States slowed more than expected in August, according to data from payroll firm ADP on Wednesday, as a boom from the leisure and hospitality sectors faded.

This comes as both segments, which are key drivers of summer hiring, slow into the later part of the year while policymakers keep a close eye on labor market strength as they weigh further interest rate decisions.

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