ADP-Moody's: U.S. added 428,000 jobs in August

Sept. 2 (UPI) -- The U.S. economy added 428,000 jobs in the month of August, a private assessment from ADP and Moody's Analytics said Wednesday.

The report showed that more than half of the new jobs, 270,000, were created by large businesses with more than 1,000 employees.

Small businesses created 52,000 jobs and medium businesses 79,000, the analysis said.

"The August job postings demonstrate a slow recovery," Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said in a statement. "Job gains are minimal, and businesses across all sizes and sectors have yet to come close to their pre-COVID-19 employment levels."

The report said most of the new jobs were in the service sector -- 129,000 in leisure and hospitality, 100,000 in education and health and 66,000 in professional and business services.

ADP and Moody's also added nearly 50,000 jobs to its July total.

The private assessment is released two days before the federal government's monthly jobs report. Most economists expect the Labor Department's report Friday to show about 1 million new jobs for August.