Companies in U.S. Added More-Than-Forecast 42,000 Jobs in July, ADP Says

Companies in the U.S. added 42,000 workers to payrolls in July, according to figures from ADP Employer Services.

The ADP number was forecast to show a gain of 30,000 jobs, according to the median estimate of 37 economists surveyed by Bloomberg News. Projections ranged from a decline of 15,000 to a gain of 85,000.

Over the previous six reports, ADP’s initial figures were closest to the Labor Department’s first estimate of private payrolls in February, when they overestimated the drop in jobs by 2,000. The estimate was least accurate in April, when it underestimated the employment gain by 199,000.

To contact the reporter on this story: Timothy R. Homan in Washington at thoman1@bloomberg.net

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