ADP estimates jobs increased by 163,000 in July
Payroll-processor ADP reports that employment in the U.S. nonfarm private business sector increased by 163,000 from June to July on a seasonally adjusted basis.
The previous month’s estimated gain (May to June) was revised down slightly, from the initial estimate of 176,000 to a revised estimate of 172,000.
Employment in the private, service-providing sector expanded 148,000 in July after rising a revised 151,000 in June.
The private, goods-producing sector added 15,000 jobs in July. Manufacturing employment rose 6,000 this month, following a revised increase of 9,000 in June.
The closely-watched government jobs numbers will be released next week. Last month, they were significantly lower than ADP’s estimates (80,000 jobs added vs ADP’s 176,000).
More from the report:
Employment on large payrolls—those with 500 or more workers—increased 23,000 and employment on medium payrolls—those with 50 to 499 workers—rose 67,000 in July. Employment on small payrolls—those with up to 49 workers—rose 73,000 that same period. Of the 67,000 jobs created on medium- sized payrolls, 4,000 jobs were created by the goods producing sector and 63,000 jobs were created by the service-providing sector.
Construction employment rose for the second consecutive month, adding 5,000 jobs. The financial services sector added 9,000 jobs from June to July, marking the twelfth consecutive monthly gain.
Recent Comments