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Private sector added 44K jobs in July as hiring slows
['Editor-In-Chief', 'Michael Cohn', 'Editor-In-Chief Of Accountingtoday.Com', 'Has Been Covering Business', 'Technology For A Variety Of Publications Since Prior To...', 'Technology Editor']
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Private sector hiring grew by 44,000 jobs in July, while pay increased 4.4% year-over-year, payroll giant ADP reported Wednesday, as the pace of hiring slowed this summer.
The job gains mostly came in service-providing industries, which added 47,000 jobs overall, compared to 3,000 lost in the goods-producing sector.
The professional and business services sector, which includes accounting and tax preparation services, added 9,000 jobs, while financial activities such as banking added 10,000 jobs.
Small businesses with between one and 19 employees added 23,000 jobs in July, but those with between 20 and 49 employees lost 4,000 jobs.
Medium establishments with between 50 and 249 employees gained 2,000 jobs, while companies with between 250 and 499 employees added 6,000.