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ADP Report: Private Sector Adds 42,000 Jobs In July

Wednesday, 04 Aug 2010 08:29 AM

Private employers added 42,000 jobs in July, compared to a revised gain of 19,000 in June, a report by a payrolls processor showed on Wednesday.

The June figure was originally reported as a gain of 13,000.

The median of estimates from 33 economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for a rise of 40,000 private-sector jobs in July.

The ADP figures come ahead of the government's much more comprehensive labor market report on Friday, which includes both public and private sector employment.

That report is expected to show a fall in overall nonfarm payrolls of 65,000 in July, based on a Reuters poll of analysts, but a rise in private payrolls of 90,000.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.

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Private employers added 42,000 jobs in July, compared to a revised gain of 19,000 in June, a report by a payrolls processor showed on Wednesday. The June figure was originally reported as a gain of 13,000. The median of estimates from 33 economists surveyed by Reuters for...
Private,Sector,42,000,Jobs
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2010-29-04
Wednesday, 04 Aug 2010 08:29 AM
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