ADP data showed US private-sector employment rose 44,000 in July, signaling a sharp slowdown in hiring momentum.
Annual pay growth for job-stayers held at 4.4% year over year, pointing to steady wage pressure despite softer job gains.
Job-changers’ pay growth accelerated to 7%, the fastest year-over-year increase since August 2025, indicating tighter conditions for experienced hires.
Service-providing industries added 47,000 jobs while goods-producing industries lost 3,000, keeping growth concentrated in services.
June job growth was revised down to 95,000 from 98,000, reinforcing a cooling trend in private payrolls.
ADP•
