Private-sector employment increased by 54,000 jobs in August, according to payroll processor ADP, falling short of economists’ expectations for 75,000 new positions and marking a sharp deceleration from the previous month’s pace.

The August figure represents a significant cooling from July’s revised total of 106,000 jobs, suggesting employers are growing more cautious about hiring amid economic uncertainty. The ADP National Employment Report, released Wednesday, tracks payroll data from more than 26 million private-sector workers.

Annual pay growth held steady at 4.4 percent for workers who remained in their jobs, while those who switched positions saw wages rise 7.1 percent year-over-year.

The leisure and hospitality sector dominated job creation, adding 50,000 positions in August. Con

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