ADP Data Shows Private Payrolls Slowed to 38K in August, Weakest Since January
ADP sits 51% above its 52-week low of $188.16.
Summary
ADP's August National Employment Report shows private employers added just 38,000 jobs, the slowest pace since January and well below the prior month's revised 46,000. The report also reveals base pay growth of 3.2% and gross pay growth of 4.7% year-over-year, with job-changers' pay growth decelerating. This follows July's disappointing 44,000 print and suggests a cooling labor market, which could weigh on ADP's payroll processing volumes and client hiring activity. The company also launched an enhanced Pay Insights platform with expanded geographic data, but the headline number is the key takeaway for traders. The next report is due September 30, 2026.
At the time of this announcement, ADP was trading at $283.68 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $112.6B. The 52-week trading range was $188.16 to $302.68. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: PR Newswire.