ADP: Employers Added 163K Jobs in July

The number of new private sector jobs in June was revised downward

   

ADP: Employers Added 163K Jobs in July

Last month was better for job seekers than most economists anticipated.

The monthly report on private business hiring from Automatic Data Processing (NASDAQ:ADP) and Macroeconomic Advisers indicated that U.S. businesses added 163,000 new workers last month.

now hiring sign 630 200x200 ADP: Employers Added 163K Jobs in July
Job Losses: Comparing Recessions

That topped economists, who were predicting just 108,000 new private-sector jobs for July, Dow Jones noted.

ADP revised downward its previously announced new job numbers for June, from 176,000 to 172,000.

According to ADP, in July the service sector added 148,000 jobs, while manufacturers hired just 6,000 new workers.

On Friday, the U.S. Bureau of Labor Statistics’ will issue its non-farm payroll report for July. Economists are expecting that report to show just 95,000 non-farm related jobs added last month.

There has been considerable divergence between government compiled hiring data and ADP’s numbers in recent months. In June, ADP calculated 176,000 new jobs, compared to just 80,000 noted by the government.


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/adp-employers-added-163k-jobs-in-july/.

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