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Robert Hughes
Mixed Signs Ahead of Key Data Reports
The ADP national payroll report for August suggests private payrolls in the U.S. added 177,000 new jobs. The 177,000 gain for August is less than what we saw in July, which was revised upward to an estimated 194,000. We pay attention to this report because it tends to suggest what we might see from the monthly jobs report from the Bureau of Labor Statistics.
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