201,000 private-sector jobs were added in August, according to a report released by the ADP on Thursday, a figure significantly higher than analysts anticipated. The number comes ahead of the U.S. Labor Department’s job numbers for the month of August due out on Friday, which has become one of the most-watched numbers this election cycle. A sampling of economists polled by the Wall Street Journal’s MarketWatch found that they expect the Labor Department to say that employment rose by 120,000 jobs in August, and that unemployment will remain steady at 8.3 percent. Also on Thursday, the Department of Labor announced that jobless claims fell to their lowest level in a month.
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Uh oh. Facebook’s share price dropped below $20 on Thursday—its lowest price yet—and the company has now lost half its value since its $38 debut on the market in May. Analysts said investors are worried about the social media company’s growth prospects as well as the high-level departures—and the looming deadline of August 16th, when 271 million shares will be available for trading. “The sentiment on this thing is so negative,” said Topeka Capital Markets analyst Victor Anthony. In other bad news for Facebook, the company admitted in company filings on Thursday that it believes there are 83 million illegitimate accounts out of the 955 million registered users.