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8/4, 2:15 PM (Source: TeleTrader)
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ADP: US private payrolls rise by 330,000 in July

The number of jobs in the United States private sector rose by 330,000 in July compared to the previous month, falling below analyst expectations, the ADP National Employment Report showed on Wednesday.

The largest number of new jobs were added in the service-providing sector, where a total of 318,000 new jobs were reported. Within the sector, leisure and hospitality led the gains with an increase of 139,000 positions and was the fastest growing industry for the fifth consecutive month.

Commenting on the data, ADP chief economist Nela Richardson said that "the labor market recovery continues to exhibit uneven progress, but progress nonetheless." Richardson added that "bottlenecks in hiring continue to hold back stronger gains, particularly in light of new COVID-19 concerns tied to viral variants."

Breaking the News / JC