By Lucia Mutikani
WASHINGTON (Reuters) — U.S. private employers maintained a solid pace of hiring in August despite recent global financial market turmoil, suggesting that labor market momentum likely remains strong enough for the Federal Reserve to consider an interest rate hike this year.
The ADP National Employment Report on Wednesday showed private payrolls increased 190,000 last month. While that was below economists’ expectations for a gain of 201,000 jobs, it was a step-up from the 177,000 positions created in July.
“Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs,” said Mark Zandi, chief economist of Moody’s Analytics in West Chester, Pennsylvania.…