adp private sector employment report unemployment labor market hiring
AP
By Leah Schnurr

NEW YORK -- U.S. companies added 200,000 jobs in July, topping economist expectations, in an encouraging sign for the labor market recovery, a report by a payrolls processor showed Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 180,000 jobs. June's private payrolls were revised up to an increase of 198,000 from the previously reported 188,000.

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


Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it isn't always accurate in predicting the outcome. The report is jointly developed with Moody's Analytics.

Analysts were also trying to gauge what the figures might mean for the Federal Reserve's potential timeline for winding down its stimulus program. The U.S. central bank has laid out plans to start slowing its $85 billion in monthly bond purchases later this year if the economy progresses as expected.

"ADP clearly confirms the U.S. job engine is operating on all cylinders, slanting the odds toward, or at least putting the pressure on the Fed to taper sooner rather than later," said Boris Schlossberg, managing director at BK Asset Management in New York.

The Fed will release a statement Wednesday afternoon at the conclusion of its two-day policy meeting.

Friday's payrolls report is expected to show a net 184,000 jobs were added in July, including 189,000 private jobs.

The euro fell against the dollar immediately following the ADP report, while Treasury prices widened losses. U.S. stock index futures, though, were little changed.


Increase your money and finance knowledge from home

Income Investing

Grow your nest-egg.

View Course »

Goal Setting

Want to succeed? Then you need goals!

View Course »

Add a Comment

*0 / 3000 Character Maximum

17 Comments

Filter by:
bobrms1

According to the Huffington Post there is no employment problems, after all all their propgandists are employed.

August 01 2013 at 7:17 PM Report abuse +1 rate up rate down Reply
bobrms1

2001 a space oddessy Hal is Obama

August 01 2013 at 7:14 PM Report abuse +2 rate up rate down Reply
bobrms1

It would take 350,000 just to break even.

August 01 2013 at 7:11 PM Report abuse +2 rate up rate down Reply
ectullis

Don't beleive that for one picosecond

August 01 2013 at 5:47 PM Report abuse +1 rate up rate down Reply
gfwhell

The job numbers are not quite what they seem.
Any one who gets a job even if it only allows "restricted hours" is supposedly "not unemployed".
The scam of employing people to work under 30 hours per week gives the employer a bonus
in the dis allowance of emloyee benefits and conditions.
A savy employer can fire regular employees and take on three or four times the number of replacements on a part time basis. not only boosting the "job figures" but obtaining more labor for less money.avoiding mandatory goverment interferance.
At the same time, the unfortunate part timer cannot complain if the time and venue of their labor is jacked around by the boss.
This gives the employer considerable leverage against competitors who are now all jumping on this band waggon.
It will be no supprise if the EMPLOYMENT FIGURES do not go sky high?

GFWHELL

August 01 2013 at 3:31 PM Report abuse rate up rate down Reply
cwnelson1

All of our leaders want to bypass American workers and find millions of disenfranchised illegals with no rights...willing slaves for servitude to this new failed model of World Trade with no morality and no borders holding back quick profits and election winning hype. The American Revolution was a joke...we'd be just as well off as Brit citizens ! ...maybe better off.

August 01 2013 at 2:41 PM Report abuse rate up rate down Reply
master stephens

Central Florida not doing so well, I've no Idea about the rest of the Country . My wife works at a posh resort here and they just cut her pay by 10 percent and I am a Plumber and work a month and get laid off it's happen three times this year.

August 01 2013 at 2:38 PM Report abuse +1 rate up rate down Reply
tonycgi

You need 350,000 just to keep up with population growth, and to break even. New filings for Un-Employment over 300,000, so simple math, 300,000 minus 200,000 get you a minus of 100,000. You never see a negative remark in Daily Fiinance about the adminatration.

August 01 2013 at 11:33 AM Report abuse +3 rate up rate down Reply
paddleman1928

part-time, low wage, no benefits=no recovery.

August 01 2013 at 11:03 AM Report abuse rate up rate down Reply
Mark Lukas

Is this a joke or what? First of all these figures are always revised downward and the ADP figure is always much higher than the government figure. To say the ecomony is working on all cylinders to create jobs is just laughable. How out of touch with reality are these people?

August 01 2013 at 10:03 AM Report abuse +4 rate up rate down Reply