Uneven Job Recovery on as US Private Sector Adds Fewer 330,000 Jobs in July

Uneven Job Recovery on as US Private Sector Adds Fewer 330,000 Jobs in July

(ADP National Employment Report) Private sector employment in the US rose by 330,000 from June to July.

change in total nonfarm private employment

Medium businesses added the most jobs at 132,000.

Large businesses added 106,000 jobs while the small businesses generated the fewest jobs at 91,000.

By sector, the bulk of jobs created came from services providers at 318,000.

Franchise jobs came at 105,400, with goods-producing businesses adding 12,000 jobs.

The job addition in July was a slowdown from June when 692,000 jobs were created, illustrating uneven progress in employment creation.

Bottlenecks in hiring constrained job gains, with the new Covid-19 strains expected to pose a challenge in the coming months.

SPY is down -0.27%, DXY is down -0.12%.

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