Private-sector nonfarm employment increased by 114,000 from June to July on a seasonally adjusted basis, according to the latest ADP National Employment Report released today by payroll processor Automatic Data Processing, Inc. based in Roseland, N.J.
The number beat analyst expectations by a bit less than 9%. Results for the May to June period, meanwhile, were revised downward from 157,000 jobs added to 145,000.
Small business accounted for 58,000 jobs, medium-sized companies 47,000, and large companies 9,000. The goods-producing sector shrank by 7,000 jobs, including a loss of 1,000 in manufacturing, while the service sector added 121,000 jobs.
The report, prepared with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month.
The Labor Department monthly employment report is due Friday. Analysts are expecting the national unemployment rate to remain flat with June at 9.2%.