Private sector surprises with 195,000 jobs added in August
The private sector added 195,000 jobs in August, surpassing economists' expectations of 140,000 jobs, according to a report released Thursday by ADP and Moody's Analytics.
Why it matters: The labor market — largely viewed as the steadiest part of the economy — appears to remain intact. The ADP report, which doesn't include government jobs, is viewed as as a tee-up of what's to come from the official jobs release from the Bureau of Labor Statistics on Friday.
What they're saying: "Businesses are holding firm on their payrolls despite the slowing...