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U.S. Private Sector Employment Surges Much More Than Expected In July
(RTTNews) - With the leisure and hospitality sector again driving growth, payroll processor ADP released a report on Wednesday showing U.S. private sector employment jumped by much more than expected in the month of July.
ADP said private sector employment shot up by 324,000 jobs in July after surging by a downwardly revised 455,000 jobs in June.
Economists had expected private sector employment to increase by 189,000 jobs compared to the spike of 497,000 jobs originally reported for the previous month.
"The economy is doing better than expected and a healthy labor market continues to support household spending," said ADP chief economist Nela Richardson. "We continue to see a slowdown in pay growth without broad-based job loss."
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U.S. Job Growth Slightly Exceeds Estimates In May
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U.S. Employment Jumps Slightly More Than Expected In May
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U.S. Labor Productivity Slumps Much More Than Previously Estimated In Q1
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Largely reflecting a sharp pullback by the value of the imports, the Commerce Department released a report on Thursday showing a substantial decrease in the size of the U.S. trade deficit in the month of April.
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U.S. Weekly Jobless Claims Unexpectedly Rise To 247,000
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