The Boock Report

The Boock Report

Share this post

The Boock Report
The Boock Report
ADP private sector jobs data

ADP private sector jobs data

Peter Boockvar
Aug 30, 2023
∙ Paid
Share

ADP said the private sector added a net 177k jobs in August, about 20k below expectations but completely offset and then some by an upward revision of 47k to its July figure. The growth in service sector jobs was cut in half from 303k in July to 154k in August. The goods producing sector hired a net 23k vs 21k last month. 

In particular on the service side, after huge increases seen in June and July (I believe due to ADP's faulty seasonal adjustment), the hiring in leisure and hospitality cooled to 30k. 

Manufacturing hired a net 12k and construction added 6k. 

Hiring slowed from the previous few months with small and medium sized businesses.

Keep reading with a 7-day free trial

Subscribe to The Boock Report to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Peter Boockvar
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share