Wednesday, August 02, 2017

ADP: Private Employment increased 178,000 in July

by Bill McBride on 8/02/2017 08:20:00 AM

From ADP:

Private sector employment increased by 178,000 jobs from June to July according to the July ADP National Employment Report®. ... The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
...
“Job gains continued to be strong in the month of July,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “However, as the labor market tightens employers may find it more difficult to recruit qualified workers.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The American job machine continues to operate in high gear. Job gains are broad-based across industries and company sizes, with only manufacturers reducing their payrolls. At this pace of job growth, unemployment will continue to quickly decline.”
This was close to the consensus forecast for 175,000 private sector jobs added in the ADP report. 

The BLS report for July will be released Friday, and the consensus is for 180,000 non-farm payroll jobs added in July.