by Calculated Risk on 7/30/2014 08:15:00 AM
Wednesday, July 30, 2014
Private sector employment increased by 218,000 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.This was below the consensus forecast for 235,000 private sector jobs added in the ADP report.
Mark Zandi, chief economist of Moody’s Analytics, said, "The July employment gain was softer than June, but remains consistent with a steadily improving job market. At the current pace of job growth unemployment will quickly decline. Layoffs are still receding and hiring and job openings are picking up. If current trends continue, the economy will return to full employment by late 2016.”
The BLS report for July will be released on Friday.
Posted by Calculated Risk on 7/30/2014 08:15:00 AM