---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000882795.md"
description: "📢 𝗝𝗨𝗦𝗧 𝗜𝗡: U.S. Private Payrolls Rise Just 38,000 in August, Slowest Job Growth Since January - $QQQ $SPY 👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:➤  U.S. private employers added just 𝟯𝟴,𝟬𝟬𝟬 jobs in August.➤  Hiring recorded its 𝘀𝗹𝗼𝘄𝗲𝘀𝘁 𝗽𝗮𝗰𝗲 since January.➤  𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗵𝗲𝗮𝗹𝘁𝗵 services led gains with 𝟰𝟱,𝟬𝟬𝟬 jobs.➤  𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 lost 𝟭𝟳,𝟬𝟬𝟬 jobs during August.➤  𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹 𝗮𝗻𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 services shed 𝟭𝟲,𝟬𝟬𝟬 positions.➤  Large employers accounted for 𝟯𝟰,𝟬𝟬𝟬 of August's job gains.➤  Base pay increased 𝟯.𝟮% year-over-year across all private workers.➤  Gross pay increased 𝟰.𝟳% year-over-year across all workers.➤  Job-changers saw 𝟰.𝟳% base-pay and 𝟳.𝟯% gross-pay growth.➤  July payroll gains were revised higher to 𝟰𝟲,𝟬𝟬𝟬 from 𝟰𝟰,𝟬𝟬𝟬.👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:➤  Slower hiring signals continued 𝗰𝗼𝗼𝗹𝗶𝗻𝗴 in the U.S. labor market.➤  Weak manufacturing and professional hiring highlights uneven economic momentum.➤  Moderating wage growth could reduce future 𝗶𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻𝗮𝗿𝘆 pressure.➤  Softer employment conditions could influence upcoming 𝗙𝗲𝗱𝗲𝗿𝗮𝗹 𝗥𝗲𝘀𝗲𝗿𝘃𝗲 policy decisions.👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀:𝗗𝗿. 𝗡𝗲𝗹𝗮 𝗥𝗶𝗰𝗵𝗮𝗿𝗱𝘀𝗼𝗻, Chief Economist, ADP:"Pay can tell us a lot about today's choppy hiring. To understand hiring patterns, you have to look deeply into where pay growth is accelerating, where it's slowing, and for whom,""Once predictable wage growth has been overtaken by complexities of demographic change, persistent inflation, and AI's effects on jobs,""Our new Pay Insights report, with its enhanced data, can more fully reveal the dynamics of today's labor market."𝗟𝗶𝘃 𝗪𝗮𝗻𝗴, Lead Data Scientist, ADP Research:"With its extended history, added dimensions of base pay and distribution, and granular metro information, Pay Insights more fully captures the pay structure of the U.S. labor market and how it's changing over time,""Our August release, for example, shows that pay growth has been decelerating for the past four years,""Among lower-paid workers in particular, base pay growth has lost momentum and now is slower than it was prior to the pandemic.""
datetime: "2026-09-02T12:16:42.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000882795.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000882795.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000882795.md)
author: "[Hardik Shah](https://longbridge.com/en/profiles/27423834.md)"
generator: "portal-rs"
---

# 📢 𝗝𝗨𝗦𝗧 𝗜𝗡: U.S. Private Payrolls Rise Just 38,000 …


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**