Average weekly private payrolls in the U.S. increased by 11,750 jobs in the four weeks ending Aug. 8, according to preliminary data from ADP Research Institute.
The gain follows a second consecutive week of hiring expansion, rising from a prior four-week average of 9,500 jobs. ADP’s July private employment report showed net job growth of 44,000, down from 95,000 in June.
The Labor Department separately revised its payrolls figures for May and June, reducing the reported job gains by 103,000 during those months. The revisions underscore a broader slowdown in labor market momentum amid persistent inflationary pressures.
The July jobs report from the Labor Department unexpectedly showed a decline in nonfarm payrolls, intensifying concerns over the health of the U.S. economy. Investors are closely tracking labor market indicators to assess the Federal Reserve’s next policy moves.
Earlier this month, ADP reported that U.S. private employers added 44,000 jobs in July, a deceleration from the 95,000 increase recorded in June. The firm’s data has increasingly reflected a cooling labor market, even as broader economic conditions remain under scrutiny for signs of resilience or strain.
