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July’s Job Growth “Healthy But Steadily Slowing”

Private sector employment increased by 156,000 jobs over the past month, according to the July ADP National Employment Report. Job gains occurred across a variety of sectors and company sizes, although companies with fewer than 20 employees posted a net loss of 11,000 jobs during July.

“Job growth is healthy, but steadily slowing,” said Mark Zandi, chief economist of Moody’s Analytics, which produces the report in collaboration with the ADP Research Institute.

“Small businesses are suffering the brunt of the slowdown,” he added. “Hampering job growth are labor shortages, layoffs at bricks-and-mortar retailers and fallout from weaker global trade.”

Ahu Yildirmaz, VP and co-head of the ADP Research Institute, added, “A moderation in growth is expected as the labor market tightens further.”

The biggest gainer among employment sectors was healthcare, which added 35,000 positions during July. Also strong were the leisure/hospitality sector, up 26,000 jobs; and professional/technical services, which added 20,000.

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Read more at ADPConnect With Moody’s Analytics’ Zandi

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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