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US private-sector employment is
estimated to have increased by 114,000
in July on a seasonally adjusted basis, according to the latest ADP
Employment Report released today.
The estimated advance in employment from May to June was
revised down modestly to 145,000, from the initially reported 157,000.
Manufacturing employment decreased 1,000 in July, which has seen growth in seven
past nine months.
The Bureau of Labor Statistics (BLS)
monthly employment report including both public and private sector jobs, will be
published on Friday.
“Today’s report shows modest job creation for the month of July at a rate of
half what is
needed for meaningful employment and economic recovery,” said Gary C. Butler, CEO of ADP. “Construction lost 11,000 jobs this month, and
and financial services were nearly flat with losses of 1,000 each.
“However,” continued Butler, “the professional business services, education and
sectors had good growth. Another bright note is that small businesses showed
growth for the 20th straight month, averaging 69,000 jobs a month for the past
According to Joel Prakken, chairman of Macroeconomic Advisers,
an economics consultancy, “Today’s ADP
National Employment Report suggests that employment continued to advance at a
moderate pace in July. This gain of employment growth is moderately above the
consensus forecast for Friday’s jobs number from the BLS, and this pace of job
usually implies a steady unemployment rate. However, employment is decelerating.
Since February, the three-month percent change has declined every month, from
then to 0.27% in July.”
US Nonfarm Private Employment Highlights
- - July, 2011 Report:
Total employment: +114,000
Small businesses:* + 58,000
Medium businesses:** + 47,000
Large businesses:*** + 9,000
Goods-producing sector: - 7,000
Service-providing sector: +121,000
* Small businesses represent payrolls with 1-49 employees
** Medium businesses represent payrolls with 50-499 employees
*** Large businesses represent payrolls with more than 499 employees
TrimTabs Investment Research estimated the that economy added 161,000 jobs in
July, up from 128,000 estimated in June.
On Tuesday, President Obama called on Congress to extend
unemployment-insurance benefits and a payroll-tax credit for employees. He also
urged lawmakers to approve a patent overhaul, free-trade deals and an
"There's no reason for Congress not to send me those bills so I can sign them
into law right away, as soon as they get back from recess," Obama said.
"It shouldn't take the risk of default, the risk of economic catastrophe, to get
folks in this town to work together and do their jobs."