According to a revised private report, US companies increased their headcount at a slow pace in August.
This suggests that hiring is declining in an economy plagued by rising interest rates and high inflation.
According to new data compiled by ADP Research Institute and
Stanford Digital Economy Lab, businesses' payrolls increased 132,000 in this month.
This is the smallest increase since 2021. The Wednesday report includes
historic jobs data for the past 12 years on both a weekly and monthly basis.