August 2021 Automatic Data Processing Inc National Employment Report Call - Media Call Transcript
Greetings, and welcome to the ADP National Employment Report Call. (Operator Instructions) As a reminder, this conference is being recorded, Wednesday, September 1, 2021. I would now like to turn the conference over to Joanna DiNizio with ADP. Please go ahead.
Good morning, and welcome to the August 2021 ADP's National Employment Report Media Conference Call. With us is Nela Richardson, Chief Economist at ADP. Nela will share her thoughts on the August findings, which is derived from ADP's actual data of those who are at company's payroll. And then she'll take as many of your questions as possible before our hard stop at 9:00 a.m. Eastern Time. Nela, please go ahead.
Thank you, Joanna. Good morning, everybody. Good morning from my very rainy day in [Brunswick], New Jersey. Our latest report suggests that the labor market recovery has downshifted. In August, private sector payrolls grew by 374,000 on net. The underlying model that
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