Private payroll growth slowed to 122,000 in July, less than expected, ADP says

According to ADP’s National Employment Report, the growth in private sector employment decelerated in July with 122,000 new jobs, coming short of analyst predictions. ADP, a leading provider of human resources management software and services, is generally considered a reliable predictor of the government’s private sector employment numbers. Having said this, it is worth noting that these numbers only reveal a portion of the overall employment picture, as they don’t include government jobs. The less-than-expected job growth may