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Wednesday, August 03, 2011

ADP: Private Employment increased 114,000 in July

by Calculated Risk on 8/03/2011 08:15:00 AM

ADP reports:

Employment in the U.S. nonfarm private business sector rose 114,000 from June to July on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated advance in employment from May to June was revised down modestly to 145,000, from the initially reported 157,000.
Employment in the service-providing sector rose by 121,000 in July, marking 19 consecutive months of employment gains. Employment in the goods-producing sector fell by 7,000 in July, the second decline in three months. Manufacturing employment decreased 1,000 in July, which has seen growth in seven of the past nine months.
Note: ADP is private nonfarm employment only (no government jobs).

This was above the consensus forecast of an increase of 100,000 private sector jobs in July. The BLS reports on Friday, and the consensus is for an increase of 75,000 payroll jobs in July, on a seasonally adjusted (SA) basis.

The ADP report has not been very useful in predicting the BLS report.

Recession Measures (Graphs showing how little the economy has recovered).
FHA sells record number of REO in June
U.S. Light Vehicle Sales 12.23 million Annual Rate in July