According to the ADP National Employment Report for July, 2024, private employers added 122k jobs in July. The ADP National Employment Report is an independent and high-frequency view of the private-sector labor market based on the aggregated and anonymized payroll data of more than 25 million U.S. employees.“With wage growth abating, the labor market is playing along with the Federal Reserve’s effort to slow inflation. If inflation goes back up, it won’t be because of labor.” Said ADP chief economist Nela Richardson.
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