1:17 p.m.
Saturday, 17 February 2018

U.S. private-sector employment increased by 163,000 jobs in July

Los Ángeles, California, August 2.- According to today’s ADP National Employment Report, employment in the nonfarm private business sector rose 163,000 from June to July on a seasonally adjusted basis.

Employment in the private, service-providing sector expanded 148,000 in July after rising a revised 151,000 in June. Employment in the private, goods-producing sector added 15,000 jobs in July, while manufacturing employment rose 6,000, following a revised increase of 9,000 in June. Construction employment rose for the second consecutive month, adding 5,000 jobs. The financial services sector added 9,000 jobs from June to July, marking the twelfth consecutive monthly gain.

Carlos A. Rodriguez, president and chief executive officer of ADP, said: “According to this month’s ADP National Employment Report, the U.S. economy added 163,000 jobs in July. This increase marks two-and-half years of positive job growth. According to our data, businesses across the country have restored average of 131,000 new positions a month. Although encouraging, we’d like to see continued growth but at more robust and consistent levels.”

According to Joel Prakken, chairman of Macroeconomic Advisers, LLC, “July’s increase was the thirtieth consecutive monthly advance, and higher than the consensus forecast for today’s release and for the official jobs number due out Friday from The Bureau of Labor Statistics. Although recent employment gains likely have been restrained by heightened uncertainty over the European financial crisis and by growing concerns about domestic fiscal policy, July’s increase of 163,000 new jobs reinforces that the pace of hiring has picked back up after slowing sharply during the Spring.”

Prakken added: “This gain in private employment is strong enough to suggest that the national unemployment rate may have declined in July. Today’s estimate from ADP, if re-enforced by a similar reading on employment from the BLS on Friday, will alleviate concerns that the economy has slipped into a downturn.”

Employment levels among medium-sized payrolls—those with 50 to 499 workers—rose by 67,000, while employment on large payrolls—those with 500 or more workers—increased by 23,000 jobs in July


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