Wednesday, July 31, 2019

ADP: Private Employment increased 156,000 in July

by Calculated Risk on 7/31/2019 08:19:00 AM

From ADP:

Private sector employment increased by 156,000 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.
...
“While we still see strength in the labor market, it has shown signs of weakening,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “A moderation in growth is expected as the labor market tightens further.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth is healthy, but steadily slowing. Small businesses are suffering the brunt of the slowdown. Hampering job growth are labor shortages, layoffs at bricks-and-mortar retailers, and fallout from weaker global trade.”
This was at the consensus forecast for 155,000 private sector jobs added in the ADP report.

The BLS report will be released Friday, and the consensus is for 156,000 non-farm payroll jobs added in July.