The US private sector added approximately 38,000 jobs in August, according to figures released moments ago by ADP, following a gain of around 44,000 jobs in July. This fell short of expectations, which had anticipated an increase of 47,000 jobs. Wages, however, rose by 4.7% year-over-year.

In detail, the goods-producing sector lost 10,000 jobs, with the natural resources and mining sector losing 5,000. The construction sector added approximately 12,000 jobs, while the manufacturing sector lost around 17,000. The education and health services sector led the service sector with an increase of 48,000 jobs, while the professional and business services sector lost 16,000 jobs. The trade, transportation, and utilities sector lost 5,000 jobs, and the leisure and hospitality sector added 16,000 jobs.