The private sector added 330,000 jobs in July to mark a slowdown from the previous quarter, as hiring bottlenecks continue to hold back stronger gains.
- In terms of company size, medium businesses added 132,000 jobs, large businesses added 106,000, and small businesses added 91,000.
- In terms of sector, service-producing firms increased by 318,000, with leisure and hospitality the top grower for the fifth straight month with 139,000.
- Education and health services followed with 64,000; professional business services with 54,000; trade, transportation, and utilities with 36,000; and financial activities with 9,000.
- Goods-producing firms added 12,000 jobs — 8,000 in manufacturing, 3,000 in natural resources and mining, and 1,000 in construction.
- ADP Chief Economist Nela Richardson said the labor market continues to exhibit “uneven progress,” with the July data showing a slowdown from the second quarter.
- Richardson believes stronger monthly gains could come in the coming months as bottlenecks in hiring activities are addressed.