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ADP private payrolls rise more than forecast

Akin OyedeleAug 3, 2016, 17:45 IST

Job seekers stand in line to meet with prospective employers at a career fair in New York City.REUTERS/Mike Segar

Private payrolls increased by 179,000 in July, according to ADP Research Institute.

Economists had forecast it will report that private payrolls rose by 170,000, according to Bloomberg. The gain during June was revised up by 4,000 to 176,000.

This data come ahead of the Bureau of Labor Statistics' numbers on Friday, which are projected to show an increase in non-farm payrolls by 180,000.

In the report for June, ADP said slow global growth, low commodity prices, and an unfavorable exchange rate continued to weigh on US companies, especially the larger ones.

More to come ...

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