Data released on September 5th showed that the US ADP employment increased by 99,000 in August, hitting the lowest record since October 2023, significantly below the expected 145,000 and the previous value of 122,000.
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After the data was released, US Treasury bond yields plunged in the short term, with the 2-year bond yield down more than 2 basis points to 3.735%; the 10-year bond yield down more than 1 basis point to 3.744%; the US dollar index fell in the short term, dropping 0.23% intraday.
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In August, the ADP employment in the United States increased by 99,000, hitting the lowest record since October 2023, significantly below the expected 145,000 and the previous value of 122,000

- The US August ADP employment report revealed a meager increase of 99,000 jobs, marking the lowest since early 2021 and significantly below the expected 145,000, with a previous figure of 122,000.
- Following the data release, US Treasury yields saw a short-term drop, with the 2-year yield down over 2 basis points at 3.735% and the 10-year yield down over 1 basis point at 3.744%, while the US dollar index briefly declined by 0.23% intraday.
- ADP's Chief Economist, Nela Richardson, noted a slowdown in the US job market after two years of substantial growth, leading to recruitment rates below normal levels. The next key indicator to watch is wage growth, which is stabilizing after a significant post-pandemic slowdown.

US August ADP new job additions unexpectedly dropped to 99,000, hitting the lowest level in a year