US Private Job Growth Slows to 16,500 for 4 Weeks Ending July 4
Updated
Updated · en.bloomingbit.io · Jul 21
US Private Job Growth Slows to 16,500 for 4 Weeks Ending July 4
3 articles · Updated · en.bloomingbit.io · Jul 21
Summary
ADP’s weekly measure showed U.S. private-sector employment rose 16,500 on a four-week moving-average basis, down from the prior 19,800.
The slower gain points to softer labor-market momentum and could weigh on the U.S. dollar, since weaker hiring is often read as a negative signal for growth and spending.
ADP’s NER Pulse, built from high-frequency payroll data, is used by markets to track private employment trends ahead of the government’s nonfarm payrolls report.
The latest reading also marked a fourth straight weekly slowdown in hiring, extending signs of cooling in the private job market.