U.S. private employers added 38,000 jobs in August, below the Dow Jones consensus estimate of 47,000. This represents the weakest growth since January, with job creation concentrated in health care, leisure and hospitality, and construction. Manufacturing shed 17,000 positions while professional and business services declined by 16,000. Wage growth remained steady at 3% for base pay and 4.4% for total compensation among job stayers.
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