According to human resources services provider Automatic Data Processing, Inc., U.S. job growth slowed beyond market expectations in August.
The ADP revealed Wednesday that private employers added just 177,000 jobs in August, well below the 371,000 jobs added in July.
Analysts had previously predicted that 200,000 jobs would be added in August.
The news signals that the U.S. economy may be headed back to more sustainable growth levels, said ADP Chief Economist Nela Richardson.
