Wednesday, July 30, 2014

ADP: Private Sector Added 218,000 Jobs in July

According to the ADP’s National Employment Report, the private sector added 218,000 jobs in July. While less than in June, the figure remained above 200,000, indicative of a healthy and growing labor market. Moreover, July’s report included positive revisions to May and June’s headline numbers.

The ADP report suggests that Bureau of Labor Statistics data to be released on Friday will also show slowing job growth.

Job gains continued to be centered in the service sector, which added 202,000 in July, down from 238,000 the month prior – still the second highest reading this year. Professional and business services declined slightly, to 61,000 jobs added, which was slightly below the second quarter average of 66,000 per month.

The goods producing sector was weaker in July, adding just 16,000 jobs, the second lowest reading this year and well below the second quarter monthly average of 34,000. Manufacturing was also weaker, only adding 3,000 jobs, compared to 10,000 in June.

Read the ADP release.

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