US Hiring and Wage Growth Both Slowed in ADP July Data
- Firms added 122,000 jobs in July, lowest since January
- Pay increases slowed to the smallest pace since 2021
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US companies added the fewest number of workers since the start of the year and wage growth slowed, consistent with signs of a softer labor demand.
Private payrolls increased 122,000 this month, according to the ADP Research Institute. The median estimate in a Bloomberg survey of economists called for a 150,000 gain.