US private sector adds 176,000 jobs; unemployment claims fall
WASHINGTON (REUTERS) - US private employers added 176,000 jobs last month and new claims for jobless benefits fell last week, which could bolster expectations the US Federal Reserve will begin winding down a bond-buying stimulus programme this month.
Payrolls processor Automatic Data Processing (ADP) said on Thursday private sector employment expanded less than in July, but analysts said the data still backed the consensus view that a more comprehensive employment report, due on Friday, would show improvement.
"(It's) enough to reinforce expectations that the Fed will begin to taper its asset purchases," said Mr Paul Ashworth, an economist at Capital Economics in Toronto.
The ADP data comes one day before the US government's report on August non-farm payrolls, which investors will scour in hopes of divining the future direction of the Fed's massive asset-buying program.