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America's shortage of workers is about to get 'much worse'

In August, data processing firm ADP reported that 237,000 jobs were added to the Private Sector during the month, topping expectations from Wall Street economists.

“The job market continues to power forward,” said Mark Zandi, chief economist of Moody’s Analytics after Wednesday’s report was released.

With American businesses still adding north of 200,000 jobs per month, those looking for qualified workers seem likely to remain disappointed unless they raise wages or change their expectations.

The latest ADP report also follows data from The Conference Board out Tuesday which showed that the percentage of consumers seeing jobs as “plentiful” is at its highest level since 2001.

Michael Pearce, an economist at Capital Economics, noted Tuesday that, “In all, the resilience of consumer confidence this year in the face of the turmoil in the White House, the growing threat of nuclear war, and demonstrations on the streets is testament to how much economic conditions have improved in recent years.”

READ MORE (Yahoo Finance)

  • ADP: 237000 Jobs Added in August; 18000 in ConstructionBuilder Magazine
  • Private sector jobs up 237K in Aug vs. 185K expected: ADPCNBC
  • Private-sector job growth accelerates to 237000, ADP saysLos Angeles Times
  • ADP: Businesses added robust 237000 jobs in AugustUSA TODAY
  • Private-sector job growth surges in August with a little Amazon assist, ADP saysMarketWatch
  • ADP: Employers Added 237000 Jobs to Private Payrolls in AugustPayScale Career News (blog)
  • US Booms as Labor Market Adds 237K New JobsU.S. News & World Report
  • US private sector employment surges in AugustChannel NewsAsia
  • Survey: US Companies Added a Strong 237000 Jobs in AugustU.S. News & World Report

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America's shortage of workers is about to get 'much worse'


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