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2025-07-30 20:23:20
[Job Market Fog: Can ADP's Surpassing Growth Hide the Truth About a Slowing Labor Market?] ⑴ The ADP National Employment Report, released on July 30th Beijing time, showed that U.S. private payrolls grew more than expected in July. ⑵ Private payrolls increased by 104,000 last month, compared to a revised 23,000 decline in June. ⑶ This figure was better than the 75,000 increase forecast by economists surveyed by leading institutions. ⑷ Despite this, the overall slowdown in the labor market continues. ⑸ A leading survey showed that the proportion of consumers who considered jobs "hard to get" rose to its highest level in nearly four and a half years in July. ⑹ This is consistent with the rising number of people receiving unemployment benefits. ⑺ The market currently expects the more comprehensive U.S. Department of Labor's employment report, to be released on Friday Beijing time, to show an increase of 110,000 non-farm payrolls in July, with the unemployment rate expected to rise to 4.2% from 4.1% in June. ⑻ Most economists expect the Federal Reserve to keep its benchmark interest rate unchanged at 4.25%-4.50% at this meeting, resisting pressure to cut rates.
