US July ADP private payrolls rose by just 44,000, missing market expectations.

US July ADP employment data released today shows 44,000 jobs added, against an expectation of 70,000 and a prior reading of 98,000. US private sector hiring slowed sharply in July, with most new positions coming from the healthcare sector. The ADP report states that seasonally adjusted non-farm payroll growth (excluding government sectors) came in at 44,000 for the month, lower than the downwardly revised 95,000 in June and also below the market forecast of 75,000. Overall, all job growth came from the service sector, which added 47,000 positions, while goods-producing firms cut 3,000 jobs. Among these roles, the education and health services sector created 36,000 jobs, continuing its long-standing trend of leading employment growth. Financial activities added 10,000 positions, professional and business services contributed 9,000, and other service categories saw a 6,000 increase. ADP Chief Economist Nela Richardson said: "Job seekers are extremely sensitive to real-time economic conditions, and the rapid rise in their wages indicates supply constraints in some parts of the labor market. At the same time, as employers respond to changing macroeconomic conditions, typical hiring patterns are also shifting."