Odaily Planet Daily News: U.S. companies added the fewest jobs last month since early 2021, further proving that the labor market is shifting to slower growth. ADP data showed that private sector employment increased by 99,000 in August, with the increase in the previous month revised down. The latest data fell short of all expectations. "After two years of substantial growth, the downward trend in the job market has slowed hiring below normal levels," said Nela Richardson, chief economist at ADP. Wage growth is stabilizing after a sharp slowdown in the aftermath of the epidemic. "Companies are scaling back hiring to cope with high costs and high interest rates. The latest data adds to evidence of slowing labor demand, with Federal Reserve officials saying they are now more concerned about labor market risks than inflation. With price pressures largely retreating from the peak of the epidemic, markets expect policymakers to begin cutting interest rates this month. Another report released Thursday showed that U.S. companies' hiring plans fell 41% in the eight months to August compared with the same period in 2023. Announced layoffs fell 3.7%. (Jinshi)