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Trading news
3 Aug 2016
US private sector adds 179,000 jobs in July - ADP
US private sector added 179,000 new jobs in July, Automatic Data Processing reported Wednesday.
The reading came in slightly above the 170,000 gain expected and follows an upwardly revised reading of 176,000 in June.
Data comes ahead of the US Government report due on Friday, with market looking for a 180,000job increase in July.
“This month’s Employment Number falls short of the 12-month average primarily because of slowing in Small business hiring,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “As the labor market continues to tighten, small businesses may increasingly face challenges when it comes to offering wages that can compete with larger businesses.”