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ADP: 218,000 private jobs created in July

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ADP: 218,000 private jobs created in July

Total falls short of expectations; middle market sees strongest gains.

Private sector employment increased by 218,000 jobs from June to July, according to payroll processing giant ADP, led by middle market hiring, which comprised 42% of the total.

Analysts had expected an increase of 230,000.

Goods-producing employment rose by 16,000 jobs in July, down from 43,000 jobs gained in June.  The construction industry added 12,000 jobs over the month, less than half last month’s gain.  Meanwhile, manufacturing added 3,000 jobs in July, less than one-third the number of jobs added in June. 

Service-providing employment rose by 202,000 jobs in July, down from 238,000 in June.  Professional/ business services contributed 61,000 jobs in July, down from 79,000 in June.  Expansion in trade/transportation/utilities grew by 52,000, down slightly from June’s 56,000.  The 9,000 new jobs added in financial activities was down 25% from last month’s number.  

"Although down from June, the July jobs number marks the fourth straight month of employment gains above 200,000,” said Carlos Rodriguez, president and chief executive officer of ADP.

Mark Zandi, chief economist of Moody’s Analytics, said, "The July employment gain was softer than June, but remains consistent with a steadily improving job market. At the current pace of job growth unemployment will quickly decline. Layoffs are still receding and hiring and job openings are picking up. If current trends continue, the economy will return to full employment by late 2016.”  

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