Private sector employment increased by 114,000 from June to July, according to payroll giant ADP, with small businesses adding 58,000 jobs.
The company’s monthly national employment report showed that midsized businesses with between 50 and 499 employees added 47,000 jobs, while large businesses over 500 employees added 9,000 jobs.
The job gains mostly came in the service sector, which added 121,000 jobs last month, while the goods-producing sector lost 7,000 jobs, including 3,000 among small businesses with less than 50 employees, according to ADP. It was the second monthly decline in the goods-producing sector.
“The slowdown in employment makes more sense in light of last week’s revised GDP numbers showing the economy grew slower late last year and this year than initially reported,” said Joel Prakken, chairman of Macroeconomic Advisers, which compiles the monthly job reports with ADP.
ADP also slightly revised downward the employment numbers for June, from a gain of 157,000 jobs to 145,000.
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