Is Economy Slowing? Far Fewer Jobs Being Added

Private payrolls increased by far fewer jobs than economists estimated, according to a new read from ADP.

Private employers added just 374,000 jobs in August. Economists had anticipated a gain of  600,000. (Story continues below.)

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Nonetheless, the jobs in August were a slight improvement over the 326,000 added the month before.

The hospitality industry saw the largest gains in employment, with the sector adding 201,000 positions.

Education and health serviced added 59,000 jobs.

On Friday, the Labor Department will report the jobs numbers for the month of August. Economists are anticipating 720,000 new jobs having been added to the economy last month, and that the unemployment rate declined to 7.2%.

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