US employers add 44,000 jobs in July

(Sharecast News) - US private employers added 44,000 jobs in July, according to Automatic Data Processing, the lowest reading in six months. July's reading follows a downwardly revised print of 95,000 in June and came in well and truly short of expectations of an increase of 70,000.

All of July's growth came from the services sector, which added 47,000 while goods-producing companies reported a drop of 3,000.

"Job-changers are highly sensitive to real-time economic conditions, and their rapid pay growth implies supply constraints in parts of the labor market," said ADP chief economist Nela Richardson. "Typical hiring patterns, meanwhile, are changing as employers react to shifting macro-economic conditions."





Reporting by Iain Gilbert at Sharecast.com