ADP Report: Private Sector Added 330k Jobs in July – Far Short of 653k Estimate

• The 330,000 new positions is sharp deceleration from the 680,000 added in June and the lowest total since February.
• Leisure and hospitality led gains with 139,000 during a month in which goods-producing industries contributed just 12,000 jobs.

Job creation at private companies tumbled in July as fears mounted over the spreading coronavirus delta variant, payroll processing firm ADP reported Wednesday.

Employers added 330,000 positions for the month, a sharp deceleration from the downwardly revised 680,000 in June and well below the 653,000 Dow Jones estimate. June’s final total fell from the initial estimate of 692,000.

July’s job growth was also the smallest gain since February.

“The labor market recovery continues to exhibit uneven progress, but progress nonetheless,” said Nela Richardson, chief economist at ADP. “July payroll data reports a marked slowdown from the second quarter pace in jobs growth.”

www.cnbc.com/2021/08/04/private-companies-added-330000-jobs-in-july-according-to-adp-far-short-of-the-653000-estimate.html