Private payroll growth lost momentum in August, ADP report shows

Private U.S. employers added 163,000 workers in August, fewer than economists expected, and a potentially discouraging signal for the government’s monthly labor report due Friday.

The data, from payroll services firm ADP, missed an average estimate of 190,000 by 14 percent, though the growth is still faster than the Federal Reserve believes necessary to maintain stable economic expansion. The numbers, along with a slew of corporate earnings reports from the spring, indicate President Trump’s trade disputes have yet to dampen the enthusiasm of hiring managers.