U.S. businesses added 219,000 jobs in July, a private survey found, a robust total that suggests employers are still able to find the workers they need despite the low unemployment rate.
Payroll processor ADP said Wednesday that hiring was led by health care providers, hotels and restaurants, and manufacturers. July’s figure was up from 181,000 in June and is enough to lower the already-low jobless rate of 4 percent.
Last month’s job gain comes as the economic expansion enters its tenth year, the second-longest in U.S. history. Tax cuts and greater government spending are accelerating growth.
Mark Zandi, chief economist at Moody’s Analytics, which compiles the ADP data, said there were signs that tariffs imposed by the U.S. and other countries have led to job cuts at large multinational firms.
Read on The Source