US Private Sector Adds 44,000 Jobs in July Amid Market Expectations Miss
US companies added 44,000 jobs in July, according to data published by Automatic Data Processing (ADP).
Alongside the softer hiring gains, the ADP report showed that annual pay increased by 4.4% year-over-year for workers who stayed in their jobs.
Market Reaction and Broader Economic Context
Labor Market Data Comparison
- Reported Job Growth: 44,000 private-sector jobs added in July, according to ADP data.
- Wage Growth: 4.4% increase in annual pay for job-stayers, as tracked by the ADP report.
- Market Response: Gold prices moved past $4,200 following the below-consensus release.
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