(Finance) – TheUS private sector employment. TO July 2023 jobs increased by 324 thousand units, against the 189 thousand of the consensus, and compare with the 455 thousand in June (data revised from 497 thousand).
The data was announced by Automated Data Processing (ADP), which every month publishes this report on the labor market based on aggregate data from the private sector. This report precedes the official one from the Department of Labor which will be published on Friday 4 August.
“Theeconomy is doing better than expected and a healthy job market continues to support household spending, we continue to see a slowdown in wage growth without large-scale job losses, said Nela Richardson, chief economist at ADP.
In the sector of services (+303 thousand jobs), the sectors with the greatest increases were Leisure/hospitality (+201 thousand) and Information (+36 thousand).
In the productive sector, employment rose by 21 thousand units, driven by the Natural resources/mining sector (+48 thousand units) and partly by buildings (+9 thousand units), while the manufacturing was down (-36 thousand units).
Dimensionally, the small businesses recorded an increase of 237,000 employees, businesses of medium dimensions reported an increase of 138,000 seats, while those of big size reported a drop of 67,000 seats.
(Photo: Saul Mohana on Unsplash)