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ADP shows US private hiring slows to 44k in July as wages stay firm
Private employment rose 44k in July versus 75k expected, while annual pay growth held at 4.4% and job-changer wage growth hit 7.0%.
US private-sector hiring slowed sharply in July, according to the ADP National Employment Report. Private employment increased by 44k, compared with the 75k consensus forecast, after a revised 95k in June, Action Forex reported.
The report showed hiring was concentrated in services, which added 47k jobs, while goods-producing industries shed 3k. Overall employment growth was described as the weakest in recent months.
Despite the softer headline, wages remained resilient. Annual pay growth for workers who stayed with their employers held at 4.4%, while wage growth for job changers accelerated to 7.0%, the strongest since August 2025.
Action Forex said ADP Chief Economist Nela Richardson pointed to stronger pay gains for job changers as evidence that labor shortages persist in parts of the economy even as employers adjust hiring to shifting macroeconomic conditions.