U.S. private employers increased hiring to an average of 11,750 jobs per week in the four weeks ending August 8, up from 9,500 the prior period, according to preliminary ADP Research data released on Tuesday.
The acceleration marked the second consecutive week of rising private payroll gains, following a separate ADP survey that showed private employment rose by 44,000 jobs in July, down sharply from 95,000 in June. The figures underscore a mixed labor market trend, with recent data pointing to softer hiring momentum compared to earlier in the year.
Revisions to the U.S. Department of Labor's payroll figures for May and June revealed a downward adjustment of 103,000 jobs, reducing the previously reported gains. The revisions follow a July labor market report that unexpectedly showed job losses, raising concerns about economic resilience amid persistent inflationary pressures.
Investors are closely watching labor market indicators as they assess the Federal Reserve's potential policy path. Federal Reserve officials have signaled a need to address inflation driven in part by energy supply disruptions linked to the conflict in Iran. A sustained weakening in employment could prompt a more cautious stance on interest rate adjustments in upcoming policy meetings.
