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Private Sector Adds 42,000 Jobs

The Street | August 4 | by Sung Moss

NEW YORK (TheStreet) — Private sector employers added some jobs in July, according to a report released ahead of Friday’s highly anticipated labor market report from the government.

Payroll processing firm Automatic Data Processing(ADP) said private sector payrolls edged up by a seasonally adjusted 42,000 last month. While that marks the sixth straight month of reflecting jobs growth, the report also noted that the average increase over that time was modest “with no evidence of acceleration.” Consensus projections provided by showed Wall Street was looking for a more modest rise of 25,000.

In June, private payrolls gained 19,000 jobs, which was revised higher from the originally reported 13,000 jump.

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