The US private sector added just 38,000 jobs in August, the slowest pace of hiring since January and a step down from July’s revised 46,000. Goods-producing industries lost 10,000 jobs, with manufacturing shedding 17,000 positions. Service-providing industries carried the weight with 48,000 new jobs, 45,000 of which came from education and health services. Large establishments with 500 or more employees accounted for 34,000 of the net gains, while the Northeast added 38,000 jobs. Base pay rose 3.2% year-over-year, with workers who switched jobs seeing a 4.7% increase.
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