U.S. private payrolls rise 38,000 in August as labor market slowdown persists

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Oleksii Zaichenko

02.09.2026

U.S. private payrolls rise 38,000 in August as labor market slowdown persists — Private payrolls slow in August

Private-sector hiring in the U.S. remains positive in August but cools to its weakest monthly gain since January. The slowdown is concentrated across much of the labor market, with most job growth coming from health care and other limited pockets of strength.

Highlights

ADP reports U.S. private payrolls increase by 38,000 in August, missing the Dow Jones estimate of 47,000 and marking the slowest gain since January.
Education and health services add 45,000 jobs while manufacturing and professional and business services decline by 17,000 and 16,000, respectively.
Base pay for job stayers grows 3% year-over-year and gross pay rises 4.4% in August, both unchanged from July according to ADP.

August hiring data and sector breakdown

As reported by CNBC, citing ADP, private U.S. companies add 38,000 jobs in August, below the upwardly revised 46,000 in July and under the Dow Jones estimate for 47,000.

The gain is the smallest since January and points to broader moderation in employment growth. Education and health services lead hiring with 45,000 added jobs, while leisure and hospitality adds 16,000 and construction gains 12,000.

Several industries post declines during the month. Manufacturing loses 17,000 jobs, professional and business services falls by 16,000, and natural resources and mining as well as trade, transportation and utilities each decline by 5,000.

Large employers account for nearly all of the increase. Companies with 500 or more workers add 34,000 jobs, while firms with fewer than 50 employees increase payrolls by 3,000.

Wage trends and implications for U.S. labor data

ADP also says pay gains hold steady in August as the company introduces a new breakdown between base pay and gross pay, which includes tips, commissions, bonuses and other earnings.

For workers staying in their jobs, base pay rises 3% from a year earlier and gross pay increases 4.4%, both unchanged from July. Across all workers, the respective gains are 3.2% and 4.7%.

The ADP figures come ahead of the Bureau of Labor Statistics nonfarm payrolls report due Friday. That report is expected to show a gain of 53,000 after a decline of 23,000 in July, while the unemployment rate is forecast to remain at 4.1%.

In our previous report on prediction-market pricing for the August U.S. jobs report, we noted that traders were split on whether payroll gains would top 50,000, implying a slightly softer view than the broader consensus. We also highlighted how recent forecasting misses and July’s job losses widened the range of outcomes being priced, keeping markets focused on what the official BLS data would signal about labor-market momentum and the policy outlook.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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