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ADP Disappoints: U.S. Businesses Add Just 44,000 Jobs In July
['John Carney']
Breitbart News
American businesses expanded their payrolls less than expected, a key measure of private sector hiring indicated Wednesday.
ADP Research said that private payrolls rose by 44,000 in July, missing estimates for 65,000 jobs.
The lower-than-expected payroll growth may not reflect a lower demand for labor but a lower supply of available workers.
Typical hiring patterns, meanwhile, are changing as employers react to shifting macro-economic conditions,” ADP economist Nela Richardson said in a statement.
The mining and natural resources sector shed 6,000 jobs in July, according to ADP.