Private sector added 114,000 jobs in JulyAugust 3, 2011 8:47 AM ET
NEW YORK (Reuters) - Private employers added more jobs than expected in July, though less than in June, but planned layoffs rose to a 16-month high, according to separate surveys on Wednesday.
The data comes ahead of the U.S. government's key jobs report on Friday, which is forecast to show the pace of job creation accelerated last month. The economy is expected to have gained 85,000 jobs, not enough to push the unemployment rate below its current 9.2 percent.
U.S. private employers added 114,000 jobs in July, topping economists' expectations, a report by a payrolls processor ADP showed on Wednesday.
Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 100,000 jobs. June's private payrolls were revised down to an increase of 145,000 from the previously reported 157,000. The report is jointly developed with Macroeconomic Advisers LLC.
A separate report on Wednesday showed the number of planned layoffs at U.S. firms rose to a 16-month high in July as sectors which had been seeing fairly few layoffs unexpectedly bled jobs.
Employers announced 66,414 planned job cuts last month, up 60.3 percent from 41,432 in June, according to a report from consultants Challenger, Gray & Christmas, Inc. |
