• U.S. private employers add 330,000 jobs in July - ADP

Market news

4 August 2021

U.S. private employers add 330,000 jobs in July - ADP

The employment report prepared by Automatic Data Processing Inc. (ADP) and Moody's Analytics showed on Wednesday the U.S. private employers added only 330,000 jobs in July. This marked the smallest advance in private-sector employment since February.

Economists had expected an increase of 695,000.

The June number saw a downward revision to 680,000 from the originally reported 692,000.

“The labor market recovery continues to exhibit uneven progress, but progress nonetheless. July payroll data reports a marked slowdown from the second quarter pace in jobs growth,” noted Nela Richardson, chief economist, ADP. “For the fifth straight month the leisure and hospitality sector is the fastest growing industry, though gains have softened. The slowdown in the recovery has also impacted companies of all sizes. Bottlenecks in hiring continue to hold back stronger gains, particularly in light of new COVID-19 concerns tied to viral variants. These barriers should ebb in coming months, with stronger monthly gains ahead as a result."

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