US Private Payrolls Slow as Factory Orders Rebound
US private payroll growth slowed more than expected in August following job losses in manufacturing. Meanwhile, factory orders rebounded in July with strong gains across several key sectors.
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United States private payrolls increased by 38,000 jobs in August, falling short of forecasts as manufacturing cutbacks offset gains in healthcare. The slower hiring pace points to a cooling labor market following spring momentum. Investors are now awaiting broader employment data to gauge the Federal Reserve's next policy move.
