Private‑sector payrolls rose by 104,000 in July, according to data released on July 30 by human resources management company ADP, outpacing economist forecasts and marking a sharp rebound from June’s revised 23,000 decline.
The ADP report comes two days before the closely watched Department of Labor’s nonfarm payrolls release and as the Federal Reserve weighs how much cooling is underway in the job market.
The July jobs gain exceeded consensus expectations of roughly 78,000 and signals renewed hiring momentum after a weak spring. Annual pay growth remained steady at 4.4 percent for workers staying in their jobs and 7 percent for those switching roles, ADP said….