Market Overview

ADP Employment Data For July Comes In Better Than Expected

ADP Employment Data For July Comes In Better Than Expected

ADP National Employment reports data for July saw private sector employment increased by 156,000 jobs from June to July, higher than 150,000 expected.

"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." said Mark Zandi, chief economist of Moody's Analytics, "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."

ADP revised June's employment change from an initial 102,000 jobs to 112,000 jobs.

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