August private payrolls rose by 99,000, smallest gain since 2021 and far below estimates, ADP says
The total was less than the downwardly revised 111,000 in July and below the Dow Jones consensus forecast for 140,000.
The total was less than the downwardly revised 111,000 in July and below the Dow Jones consensus forecast for 140,000.
Announced job cuts totaled 75,891 for the month, lurching 193% higher than July.
Bostic signaled that he is ready to start lowering rates even though inflation is still running above the Fed's target.
The closely watched Job Openings and Labor Turnover Survey showed that available positions fell to 7.67 million on the month.
The ISM monthly survey of purchasing managers showed that just 47.2% reported expansion in August.
The PCE price index was expected to rise 0.2% in July and 2.5% from a year ago, according to the Dow Jones consensus.
Economics polled by Reuters had forecast a decline to 2.2% in August, down from 2.6% in July.
The Commerce Department at 8:30 a.m. ET will release its personal consumption expenditures price index.