The private sector added 38,000 jobs last month, missing expectations, ADP says

Private-sector employment in the United States added 38,000 jobs in August, according to payroll processor ADP, falling short of economists' expectations. The anticipated gain was 47,000 jobs. July's job growth was revised up to 46,000. The education and healthcare sectors contributed the majority of new positions, while manufacturing and business and professional services experienced job reductions.

Wages for workers who changed jobs increased by 4.7% year-over-year, while those who remained in their positions saw a 3% rise. ADP chief economist Nela Richardson noted that there is still potential for wage growth by switching jobs, even in this tight job market. The Labor Department will release its own August jobs data on Friday, based on surveys from both public and private employers.

Economists anticipate the government figures to indicate 55,000 new jobs added. Claire Boston, a Senior Reporter for Yahoo Finance covering housing, mortgages, and home insurance, reports on the latest economic news and indicators to aid investors.