US August ADP Nonfarm Employment 132,000...Significantly Below Expectations

[Asia Economy Reporter Kwak Minjae] The increase in non-farm payrolls in the United States for August was recorded at 132,000, significantly below expectations.

According to the Automatic Data Processing (ADP) employment report on the 31st (local time), the increase in non-farm payrolls in the U.S. this month was 132,000, far below the expected 288,000.

The ADP report is an important indicator for assessing the U.S. labor market. The Federal Reserve (Fed) has clearly stated that a definite improvement in the labor market is necessary before controlling large-scale bond purchase programs or raising interest rates.