A ‘help wanted’ sign is displayed in a window of a store in Manhattan on December 02, 2022 in New York City.
Spencer Platt | Getty Images
Job creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might be starting to ease under pressure from higher interest rates.
The firm reported Wednesday that private employers added 177,000 jobs in August, well below the revised total of 371,000 added in July. Economists surveyed by Dow Jones were expecting 200,000 jobs added in August.
ADP also reported that pay growth slowed for workers who changed jobs and those who stayed in their current positions.