US Private Sector Adds 167,000 Jobs in July

Employment in the US’ private sector rose by 167,000 in July, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. This reading came in much worse than the market expectation for an increase of 1.5 million. 

Data for June was revised up to show payrolls jumping by 4.314 million jobs instead of advancing 2.369 million as previously estimated.

“The labor market recovery slowed in the month of July,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

“We have seen the slowdown impact businesses across all sizes and sectors.” He Added