WASHINGTON — U.S. businesses added 163,000 jobs in August, a private survey found, a decent gain that suggests that employers are confident enough to keep hiring.
Payroll processor ADP said Thursday that the job gains were the fewest since October. But last month’s pace of hiring is still enough to lower the unemployment rate over time.
Solid economic growth is underpinning an optimistic outlook among businesses. Growth reached 4.2 percent at an annual rate in the April-June quarter, the fastest pace in four years, spurred by tax cuts and robust consumer spending.