Published 3 years ago

US private payrolls rise by 330,000 in July — less than half what economists expected

Summary by Ground News

U.S. labor market is likely to recover at a pace of about 500,000 jobs a month, Bullard said. Returning to pre-pandemic employment levels by next summer could help meet the Fed’s criteria for raising interest rates. Bullard repeated his view that he supports tapering asset purchases early.

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Reuters

U.S. private payrolls growth slows in July

WASHINGTON - U.S. private payrolls increased far less than expected in July, likely constrained by shortages of workers and raw materials. Private payrolls rose by 330,000 jobs last month, the ADP National Employment Report showed on Wednesday. Data for June was revised slightly down to show 680,000 jobs added instead of the initially reported 692,000. Economists polled by Reuters had

3 years ago·United Kingdom

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CNBC

Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate

Employers added 330,000 positions for the month, a sharp deceleration from June and well below the 653,000 estimate.

3 years ago·United States

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The Hill

Private sector adds 330K jobs in July, well short of expectations: ADP

U.S. private sector payroll growth fell well short of expectations in July, according to data released Wednesday, raising doubts about the strength of the upcoming federal jobs report.

3 years ago·Washington, United States

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IBTimes

US Recovery Stumbles As Private Hiring Slows Sharply In July

After recovering strongly as widespread vaccinations allowed for the lifting of pandemic restrictions, hiring by American firms slowed sharply in July, according to data released Wednesday by payroll services firm ADP. The setback comes as President Joe Biden's infrastructure and jobs plan nears approval in Congress, while he continues to push for massive spending on programs to support the economic recovery.

3 years ago·United States

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