US com­pa­nies added a solid 178,000 jobs in July: Sur­vey

Kuwait Times - - BUSINESS -

US busi­nesses added a solid 178,000 jobs in July, a sur­vey found, ev­i­dence that em­ploy­ers re­main con­fi­dent enough about fu­ture de­mand to keep hir­ing.Pay­roll pro­ces­sor ADP said yes­ter­day that the big­gest gains were in fields such as ed­u­ca­tion and health care and ship­ping. Man­u­fac­tur­ers cut 4,000 jobs, while con­struc­tion firms added 6,000. Min­ing, which in­cludes oil and gas drilling, gained 3,000 jobs.

July’s gain is be­low June’s fig­ure of 191,000, which was re­vised higher. But it is still enough to lower the un­em­ploy­ment rate over time. The rate is near a 16-year low of 4.4 per­cent. The fig­ures pro­vide some re­as­sur­ance that the econ­omy re­mains healthy. Con­sumer spend­ing slowed in June and Amer­i­cans cut back sharply last month on auto pur­chases. But the over­all econ­omy grew at a de­cent 2.6 per­cent an­nual pace in the April-June quar­ter.

An­a­lysts pre­dict the gov­ern­ment’s jobs re­port, to be re­leased to­mor­row, will show a ro­bust 190,000 jobs were added, ac­cord­ing to data provider Fac­tSet. The ADP cov­ers only pri­vate busi­nesses and of­ten di­verges from the of­fi­cial fig­ures. The gov­ern­ment’s June re­port showed that em­ploy­ers, in­clud­ing fed­eral, state and lo­cal gov­ern­ments, added 222,000 jobs.

Small business hir­ing has slowed a bit in re­cent months, with com­pa­nies that em­ploy fewer than 50 peo­ple adding 50,000 jobs, ADP said.

—AP

MID­DLE­TON: In this July 24, 2017, file photo, a sign advertising em­ploy­ment hangs out­side a restau­rant in Mid­dle­ton, Mas­sachusetts. US busi­nesses added a solid 178,000 jobs in July, a sur­vey found, ev­i­dence that em­ploy­ers re­main con­fi­dent enough about fu­ture de­mand to keep hir­ing.

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