Get All Access for $5/mo

Private-Sector Hiring Slows in August; Medium-Sized Businesses Drive New Payrolls The private sector added 176,000 new jobs in August, down from 198,000 in July and marking the lowest level since May, according to the ADP Employment Report.

By Ray Hennessey Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

marketwatch.com

Private-sector hiring slowed in August, with the ADP Employment Report showing companies added 176,000 new jobs.

The figure was down from the 198,000 payrolls report in July, and it marks the lowest level since May, ADP said.

Interestingly, the smallest of American businesses were not the biggest driver of new payrolls. Medium-sized businesses, defined by ADP as those with between 50 and 499 employees, added 74,000 jobs in August.

That was ahead of the 71,000 jobs added by companies with between one and 49 workers. Of that 71,000, 40,000 came from companies with fewer than 20 workers, ADP said. Traditionally, the small business category has added the most jobs.

One other change was that the service sector saw a drop in employment – to 165,000 jobs in August, down from 176,000 in July. The service sector has been adding most of the jobs.

Instead, goods-producing jobs rose by 11,000 in August. However, that was half the rate than in July.

Related: Why Everyone Will Have to Become an Entrepreneur (Infographic)

Ray Hennessey

Former Editorial Director at Entrepreneur Media

Ray Hennessey is the former editorial director of Entrepreneur.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.

Leadership

This Artist Answered a Businessman's 'Powerful' Question — Then His Work Became 'the Poster Child for Juneteenth': 'Your Network Really Becomes Your Net Worth'

Reginald Adams was the executive director of a Houston-based art museum for more than a decade before he decided to launch his own public art and design firm.

Leadership

Harvard Business School Professor Says 65% of Startups Fail for One Reason. Here's How to Avoid It.

Team alignment isn't nice to have -- it's critical for running a successful business.

Business News

Here's What Companies Are Open and Closed on Juneteenth 2024

Since it became a holiday in 2021, Juneteenth has been recognized by some major corporations as a paid day off.

Growing a Business

I Hit $100 Million in Annual Revenue by Being More Transparent — Here Are the 3 Strategies That Helped Me Succeed

Three road-tested ways to be more transparent and build relationships that can transform your business — without leaving you feeling nightmarishly over-exposed.