Private payrolls rose by 330,000 in July, missing estimates: ADP
Source: Yahoo! Finance
Yahoo Finance
Private payrolls rose by 330,000 in July, missing estimates: ADP
Emily McCormick · Reporter
Wed, August 4, 2021, 8:15 AM
U.S. employers added back fewer jobs than expected in July, with the tepid return of workers capping overall economic growth as the economy struggles to fully emerge from the grips of the COVID-19 pandemic.
Private payrolls increased by 330,000 in July, ADP said in its closely watched monthly report on Wednesday. Consensus economists were looking for a rise of 690,000, according to Bloomberg data. In June, the economy added back 680,000 private payrolls, with this figure revised down from the 692,000 previously reported.
Private sector employment has increased for seven consecutive months, with the pace of growth picking up steam as vaccinations took place in the U.S. and consumers began spending more time outside of their homes. Many of the gains have come in the hard-hit services sector, tracking the reopening of restaurants, bars and other in-person and travel-related activities.
In July, the leisure and hospitality sector added back 139,000 payrolls on net, comprising well over a third of the monthly overall private payrolls gain. However, this was also a marked deceleration from June, when more than 300,000 leisure and hospitality jobs returned. Other service sector areas that saw notable increases in July included education and health services with 64,000 payrolls and professional and business services with 54,000 jobs.
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Read more: https://finance.yahoo.com/news/adp-private-payrolls-july-2021-121552182.html
ADP National Employment Report: Private Sector Employment Increased by 330,000 Jobs in July
https://adpemploymentreport.com/2021/July/NER/docs/ADP-NATIONAL-EMPLOYMENT-REPORT-July2021-Final-Press-Release.pdf
ROSELAND, N.J. - August 4, 2021 - Private sector employment increased by 330,000 jobs from June to July according to the July ADP National Employment ReportTM. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute in collaboration with Moody's Analytics. 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.
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Private-sector employment increased by 330,000 from June to July, on a seasonally adjusted basis.
https://adpemploymentreport.com/2021/July/NER/NER-July-2021.aspx
Total Employment
Change in Nonfarm Private Employment
Historical Trend
Change in Total Nonfarm Private Employment
Change By Company Size
Change in Total Nonfarm Private Employment by Company Size
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