The US added 330,000 private-sector jobs in July from June, exhibiting uneven progress and a marked slowdown from the second-quarter pace in jobs growth, according to the ADP National Employment Report, released today.
The 330,000 new positions is a sharp deceleration from the 680,000 added in June and the lowest total since February, CNBC reported. It’s also well below the 653,000 Dow Jones estimate.
“For the fifth straight month the leisure and hospitality sector is the fastest-growing industry, though gains have softened,” said Nela Richardson, chief economist, ADP. “The slowdown in the recovery has also impacted companies of all sizes. Bottlenecks in hiring continue to hold back stronger gains, particularly in light of new Covid-19 concerns tied to viral variants. These barriers should ebb in coming months, with stronger monthly gains ahead as a result.”
Here are the jobs added in July by sector:
- Goods-producing, up 12,000
- Natural resources/mining, up 3,000
- Construction, up 1,000
- Manufacturing, up 8,000
- Service-providing, up 318,000
- Trade/transportation/utilities, up 36,000
- Information, down 1,000
- Financial activities, up 9,000
- Professional/business services, up 54,000
- Professional/technical services, up 21,000
- Management of companies/enterprises, up 1,000
- Administrative/support services, up 32,000
- Education/health services, up 64,000
- Healthcare/social assistance, up 55,000
- Education, up 9,000
- Leisure/hospitality, up 139,000
- Other services, up 16,000
ADP’s report is derived from ADP’s actual payroll data and measures the change in total nonfarm private employment each month on a seasonally adjusted basis.