Another Shoe Drops

Today's employment numbers stink:

Employment in the U.S. private sector grew by 38,000 in August, the weakest in four years, according to the ADP employment report released Wednesday.

The ADP report suggests nonfarm payrolls may have grown much slower than the 120,000 anticipated by economists. See Economic Calendar.

It was the second straight weak reading in the ADP index; July's reading was revised lower to 41,000 from 48,000 initially reported.

"A deceleration of employment may be under way," ADP said in a release.