04.08.202112:24:00UTC+00U.S. Private Sector Employment Rises Much Less Than Expected In July

Payroll processor ADP released a report on Wednesday showing private sector employment increased by much less than expected in the month of July.

ADP said private sector employment rose by 330,000 jobs in July after surging by a downwardly revised 680,000 jobs in June.

Economists had expected private sector employment to spike by 695,000 jobs compared to the jump of 692,000 jobs originally reported for the previous month.

"The labor market recovery continues to exhibit uneven progress, but progress nonetheless" said ADP chief economist Nela Richardson.