Companies in the U.S. added 185,000 workers to payrolls in July, figures from the ADP Research Institute in Roseland, New Jersey, showed Wednesday. Economists polled by MarketWatch expect the government’s report to show that nonfarm payroll rose by a 215,000 jobs last month, down from a gain of 223,000 in June.
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Job growth since early 2014 has lifted home sales to their strongest pace in eight years. “Most encouraging is the healthy rate of job growth among the nation’s smallest companies”.
The report is jointly developed with Moody’s Analytics. The result of those layoffs will be fewer job gains this year compared to 2015. Employment at service providers climbed 178,000 in July, led by gains at professional and business service providers.
Hiring cooled off last month across several industries.
Goods-producing industries, which include manufacturers and construction companies, increased headcount by 8,000 in July, according to the ADP report. The unemployment rate was forecast to hold for a second month at 5.3 per cent, the lowest since April 2008.
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The ADP survey covers only private businesses, however, and frequently diverges from the official figures.
