By Laurie Segall and Annalyn Censky
NEW YORK (CNNMoney) — Don’t look to August for a robust jobs recovery. According to a report out Wednesday, the U.S. economy added jobs during the month, but not nearly at the momentum seen earlier this year.
Private sector employers added 91,000 workers in August, down from the 109,000 jobs added in July, payroll processing firm ADP reported.
That number was slightly less than economists’ forecasts for 100,000 new jobs, and pales in comparison to job gains seen in the first four months of the year. In each of those months, the ADP report showed private sector employers added at least 175,000 jobs.
Small businesses continue to be the engine of job growth. Businesses with fewer than 50 employees added 58,000 jobs in August, while mid-sized firms added 30,000 jobs.
Read full article here: CNN
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