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ADP: Private Employment Increased 324,000 in July


From ADP: ADP National Employment Report: Private Sector Employment Increased by
324,000 Jobs in July; Annual Pay was Up 6.2%
Private sector employment increased by 324,000 jobs in July and
annual pay was up 6.2 percent year-over-year, according to the July ADP® National Employment
ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab
(“Stanford Lab”).

“The economy is doing better than expected and a healthy labor market continues to support household
spending,” said Nela Richardson, chief economist, ADP. “We continue to see a slowdown in pay growth
without broad-based job loss.”

emphasis added
This was above the consensus forecast of 185,000. The BLS report will be released Friday, and the consensus is for 184 thousand non-farm payroll jobs added in July.

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