02.09.202012:21:00UTC+00U.S. Private Sector Employment Increases Much Less Than Expected In August

Payroll processor ADP released a report on Wednesday showing much weaker than expected private sector job growth in the month of August.

ADP said private sector employment increased by 428,000 jobs in August after rising by an upwardly revised 212,000 jobs in July.

Economists had expected employment to jump by 950,000 jobs compared to the addition of 167,000 jobs originally reported for the previous month.

"The August job postings demonstrate a slow recovery," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.