Economy

Private companies added 330,000 jobs in July, according to ADP, far short of the 653,000 estimate

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A ‘We’re Hiring!’ sign is displayed at a Starbucks on Hollywood Boulevard on June 23, 2021 in Los Angeles, California.

Mario Tama | Getty Images

Job creation at private companies tumbled in July as fears mounted over the spreading coronavirus delta variant, payroll processing firm ADP reported Wednesday.

Employers added 330,000 positions for the month, a sharp deceleration from the downwardly revised 680,000 in June and well below the 653,000 Dow Jones estimate. June’s final total fell from the initial estimate of 692,000.

July’s job growth was also the smallest gain since February.

“The labor market recovery continues to exhibit uneven progress, but progress nonetheless,” said Nela…



Source cnbc.com

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