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NEW YORK, Aug. 4 (Xinhua) U.S. stocks fell on Wednesday morning after data on the nation private-sector payrolls came in weaker than expected. Shortly after
NEW YORK, Aug. 4 (Xinhua) U.S. stocks finished mixed on Wednesday as data on the nation private-sector payrolls came in weaker than expected. The Dow Jones I
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Amid unexpectedly low hiring numbers for July and a tight labor market overall, it may be time to let job seekers know how much you re willing to pay.
The U.S. non-farm private sector added 330,000 jobs from June to July, according to the ADP National Employment Report released Wednesday. That was the smallest jump since February and well below the median expected job increase of 690,000 for July, according to a Bloomberg survey. The labor market recovery continues to exhibit uneven progress, but progress nonetheless. July payroll data reports a marked slowdown from the second quarter pace in jobs growth, Nela Richardson, chief economist at ADP, said in a release.
Even with the supply chain disruptions and labor shortages the pent-up demand has kept things going gang-busters, said Anthony Nieves, chairman of the institute s services survey committee.
But he cautioned that the labor and supply-chain problems and rising inflation likely will continue to present challenges for the rest of this year.
There are hints that hiring obstacles may be lessening some. The employment index rose to 53.8 indicating growth after contracting in the month before.
Order backlogs which rose to a record in June remain elevated and inventories contracted for a second-straight month, indicating demand continues to outstrip supply.