Wednesday, August 05, 2020

ADP: Private Employment increased 167,000 in July

by Calculated Risk on 8/05/2020 08:19:00 AM

From ADP:

Private sector employment increased by 167,000 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.

“The labor market recovery slowed in the month of July,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “We have seen the slowdown impact businesses across all sizes and sectors.”
This was well below the consensus forecast for 1.25 million private sector jobs added in the ADP report.

The BLS report will be released Friday, and the consensus is for 1.36 million non-farm payroll jobs added in July.

Special Note: The BLS report includes government jobs, and State and Local government will increase sharply due to a Seasonal Adjustment quirk. Also the Census Bureau hired 27.5 thousand temp workers, for the Decennial Census, between the reference week in June and the reference week in July.