Professional services like accounting and tax prep gained 12,000 jobs, however, according to the payroll giant.
There are signs of a slowdown in the economy as businesses continue to struggle with rising COVID-19 infections across the country.
There are signs of a slowdown in the economic recovery as the COVID-19 pandemic continued to spread.
A month after President Donald Trump moved to shore up workers’ incomes by giving employers the option of deferring payroll taxes, the effort has failed to energize a U.S. economy still reeling from the coronavirus pandemic.
The private sector gained 428,000 jobs in August, especially within large companies, according to payroll giant ADP, a tentative sign of a continuing economic recovery despite the COVID-19 pandemic.
Payroll companies need guidelines on how to implement President Trump's executive order before they can start processing paychecks next month.
President Donald Trump’s order to delay collection of payroll taxes thrusts a dilemma on U.S. companies: continue withholding the money from workers expecting bigger paychecks or pass it on and potentially put themselves or their employees at risk of a big end-of-year bill from the IRS.
Job growth slowed in July as a result of the novel coronavirus pandemic.
Any boost for workers from a payroll tax cut that President Donald Trump favors would take weeks to kick in and the effects could be distributed unevenly.
A “new normal” is framing day-to-day life as those in professional services return to work.