U.S. businesses added 154,000 jobs in September, the slowest pace of hiring since April, according to a private survey by payroll processor ADP released this morning.
The Associated Press reports the data show manufacturers cut jobs for the eighth straight month. Professional and business services, which includes high-paying jobs such as accountants and engineers, added the fewest jobs in five months.
The modest job gain adds to other recent evidence that hiring is slowing after several years of strong increases.
Businesses added 175,000 jobs in August and 196,000 in July, ADP’s report says,
Recent economic data has painted a mixed picture of the economy. Consumer spending slipped in August to its lowest level since March, yet consumer confidence has jumped to a nine-year high.
ADP releases its private survey each month in advance of the government’s official jobs report, which is due out Friday. The ADP data cover only private businesses and often diverge from the official figures. Economists forecast that the government’s jobs report will show a gain of 175,000 jobs, according to data provider FactSet. The unemployment rate is expected to remain 4.9%.
