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U.S. job openings jump to record high in March US-USA-ECONOMY-JOBS

FILE PHOTO: Job seekers line up at TechFair in Los Angeles, California, U.S. March 8, 2018. REUTERS/Monica Almeida/File Photo

WASHINGTON (Reuters) – U.S. job openings surged to a record high in March, suggesting that a recent slowdown in hiring was probably the result of employers having difficulties finding qualified workers.

Job openings, a measure of labor demand, increased by 472,000 to a seasonally adjusted 6.6 million, the Labor Department said on Tuesday in its monthly Job Openings and Labor Turnover Survey, or JOLTS.

March’s job openings were the highest since the data series started in December 2000 and pushed the job openings rate up three-tenths of a percentage point to 4.2 percent. Job growth slowed in March and April after an outsized gain in February.

(Reporting By Lucia Mutikani; Editing by Andrea Ricci)

Americans voluntarily quitting jobs as labor market tightens

: A help wanted sign is posted on the door of a gas station in Encinitas, California, U.S., September 6, 2013.

By Lucia Mutikani

WASHINGTON (Reuters) – The number of American workers voluntarily quitting their jobs jumped in December to the highest level in nearly 17 years, in a strong show of confidence in the labor market which further bolsters expectations of faster wage growth this year.

The Labor Department’s monthly Job Openings and Labor Turnover Survey (JOLTS) report published on Tuesday came on the heels of news last week that annual wage growth in January was the strongest in more than 8-1/2 years. The labor market is almost at full employment.

The number of workers willingly leaving their jobs increased by 98,000 to 3.259 million, the highest level since January 2001. That lifted the quits rate to a 2.2 percent from 2.1 percent in November. This rate, which the Federal Reserve looks at as a measure of job market confidence, has rebounded from a low of 1.3 percent in late 2009.

“I had thought that by now, the fear of moving to another company would have faded,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “It really hadn’t very much, though maybe it is finally happening.”Rising job turnover boosts economists’ optimism that wage growth will accelerate this year and in turn help to push inflation toward the Fed’s 2 percent target. While economists remain confident that the U.S. central bank will increase interest rates at least three times this year, much would depend on the fortunes of the U.S. stock market.

Stocks on Wall on Monday recorded their biggest drop since August 2011 as concerns over rising U.S. interest rates and government bond yields hit record-high valuations of stocks.

“The data today are likely to keep the Fed on the path of gradual rate hikes this year as long as the stock market stabilizes from its death plunge the last two weeks,” said Chris Rupkey, chief economist at MUFG in New York.

“Labor market conditions are picture perfect today, but that can change in a hurry if worsening financial conditions and plunging markets take a toll on business confidence.”

The JOLTS report also showed that job openings, a measure of labor demand, decreased 167,000 to a seasonally adjusted 5.8 million. Still, job openings are not too far from a record high of 6.2 million touched in September.

The decline in job openings in December was led by the professional and business services sector, which saw a decrease of 119,000. Job openings in the retail trade sector fell 85,000 while vacancies in construction dropped 52,000.

But job openings in the information sector increased 33,000 and the federal government had an additional 13,000 vacancies in December. The jobs openings rate slipped one-tenth of a percentage point to 3.8 percent in December.

Hiring was little changed at 5.49 million.

“The recent moderation across much of the JOLTS data is not alarming to us given that levels still remain favorable across much of the data and that we have been expecting the pace of job growth to cool relative to the recent strong gains,” said Daniel Silver, an economist at JPMorgan in New York.

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

Strong U.S. job growth in November bolsters economy’s outlook

By Lucia Mutikani

WASHINGTON (Reuters) – U.S. job growth increased at a strong clip in November, painting a portrait of a healthy economy that analysts say does not require the kind of fiscal stimulus that President Donald Trump is proposing, even though wage gains remain moderate.

Nonfarm payrolls rose by 228,000 jobs last month amid broad gains in hiring as the distortions from the recent hurricanes faded, Labor Department data showed on Friday. The government revised data for October to show the economy adding 244,000 jobs instead of the previously reported 261,000 positions.

November’s report was the first clean reading since the storms, which also impacted September’s employment data.

Average hourly earnings rose five cents or 0.2 percent in November after dipping 0.1 percent the prior month. That lifted the annual increase in wages to 2.5 percent from 2.3 percent in October. Workers also put in more hours last month.

The unemployment rate was unchanged at a 17-year low of 4.1 percent amid a rise in the labor force. Economists polled by Reuters had forecast payrolls rising by 200,000 jobs last month.

The fairly upbeat report underscored the economy’s strength and could fuel criticism of efforts by Trump and his fellow Republicans in the U.S. Congress to slash the corporate income tax rate to 20 percent from 35 percent.

“The labor market is in great shape. Tax cuts should be used when the economy needs tax cuts and it doesn’t need tax cuts right now,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “When politics and economics are mixed in the stew, the policies that are created often have a very awful smell.”

Republicans argue that the proposed tax cut package will boost the economy and allow companies to hire more workers. But with the labor market near full employment and companies reporting difficulties finding qualified workers, most economists disagree. Job openings are near a record high.

The White House said the strong jobs report was a sign that “Trump’s bold economic vision continues to pay off.” The Democratic Party, however, said Republicans are handing working American families a “bad deal.”

The economy grew at a 3.3 percent annualized rate in the third quarter, the fastest in three years, and appears to have maintained the momentum early in the October-December quarter.

The average workweek rose to 34.5 hours in November, the longest in five months, from 34.4 hours in October. Aggregate weekly hours worked surged 0.5 percent last month after October’s 0.3 percent gain.

“A six-minute increase in the work week does not sound like much, but given the size of the labor market, it turns out to be significant in terms of output,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York.

The dollar was trading higher against a basket of currencies, while prices for U.S. Treasuries fell. Stocks on Wall Street rose.

FULL EMPLOYMENT

While November’s employment report had no impact on expectations the Federal Reserve will raise interest rates at its Dec. 12-13 policy meeting, it could help shape the debate on monetary policy next year.

The U.S. central bank has increased borrowing costs twice this year and has forecast three rate hikes in 2018.

Employment growth has averaged 174,000 jobs per month this year, down from the average monthly gain of 187,000 in 2016. A slowdown in job growth is normal when the labor market nears full employment.

The economy needs to create 75,000 to 100,000 jobs per month to keep up with growth in the working-age population.

The unemployment rate has declined by seven-tenths of a percentage point this year. A broader measure of unemployment, which includes people who want to work but have given up searching and those working part time because they cannot find full-time employment, ticked up to 8.0 percent last month from a near 11-year low of 7.9 percent in October.

Economists believe shrinking labor market slack will unleash a faster pace of wage growth next year. Higher wages and tax cuts will fuel inflation.

Some say wage growth is being understated.

“Most recognize that average hourly earnings is a flawed gauge of wages, since it is currently being held down by the fact that higher-paid older workers are retiring,” said Michelle Girard, chief economist at NatWest Markets in Stamford, Connecticut.

The growth in employment was broad in November. Construction payrolls increased by 24,000 jobs, thanks in part to rebuilding efforts in the areas devastated by the hurricanes, after rising 10,000 in October.

Manufacturing scored another month of solid job gains, with payrolls increasing by 31,000 jobs after rising 23,000 in the prior month. Retail payrolls grew by 18,700 jobs last month, the largest gain since January. Employment at department stores increased by 3,100 jobs, likely boosted by hiring for the holiday season.

Retailers, including Macy’s Inc, <M.N> reported strong Black Friday sales. Macy’s said this month it would hire an additional 7,000 temporary workers for its stores to deal with heavy customer traffic in the run-up to Christmas.

(Dashboard of 8 major unemployment indicators interactive: http://tmsnrt.rs/1jDeEdW)

(Demographic breakdown of the U.S. Jobs market interactive: http://tmsnrt.rs/2drc2A2)

(Sector breakdown of the U.S. jobs market interactive: http://tmsnrt.rs/2drejuZ)

(Charting participation rates in the U.S. labor market interactive: http://tmsnrt.rs/2drf1IJ)

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

U.S. jobless claims unexpectedly rise; import prices up modestly

By Lucia Mutikani

WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits unexpectedly rose last week in part as a backlog of applications from Puerto Rico continued to be processed, but the underlying trend pointed to tightening labor market conditions.

Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 249,000 for the week ended Nov. 11, the Labor Department said on Thursday. It was the second straight weekly increase.

The claims backlog in Puerto Rico is being cleared as some of the infrastructure damaged by hurricanes Irma and Maria is restored. Economists polled by Reuters had forecast claims falling to 235,000 in the latest week.

A labor department official said while the backlog in Puerto Rico was being processed, claims-taking procedures continued to be severely disrupted in the Virgin Islands.

Last week marked the 141st straight week that claims remained below the 300,000 threshold, which is associated with a strong labor market. That is the longest such stretch since 1970, when the labor market was smaller.

The labor market is near full employment, with the jobless rate at a 17-year low of 4.1 percent. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 6,500 to 237,750 last week.

U.S. financial markets were little moved by the data.

The low level of claims suggests strong job growth despite hurricane-related disruptions in September. Employment gains could, however, slow as companies struggle to find qualified workers, which economists expect will boost sluggish wage growth.

The claims report also showed the number of people still receiving benefits after an initial week of aid dropped 44,000 to 1.86 million in the week ended Nov. 4, the lowest level since December 1973. The four-week moving average of the so-called continuing claims fell 9,000 to 1.89 million, the lowest reading since January 1974.

In another report on Thursday, the Labor Department said import prices gained 0.2 percent last month as an increase in the cost of imported petroleum and capital goods was offset by a decline in food prices. That followed a 0.8 percent jump in September.

In the 12 months through October, import prices increased 2.5 percent, slowing after a 2.7 percent rise in September.

Last month, prices for imported petroleum increased 1.7 percent after surging 6.3 percent in September. Import prices excluding petroleum edged up 0.1 percent after shooting up 0.4 percent the prior month. Import prices excluding petroleum rose 1.4 percent in the 12 months through October.

A weak dollar, which has this year lost 5.4 percent of its value against the currencies of the United States’ main trading partners, could keep import prices outside petroleum supported.

Imported capital goods prices rose 0.2 percent last month, while the cost of imported food fell 0.2 percent.

The report also showed export prices were unchanged in October as the biggest monthly increase in the price of agricultural exports in nearly 1-1/2 years was eclipsed by a drop in nonagricultural prices. Export prices rose 0.7 percent in September. They increased 2.7 percent year-on-year last month after rising 2.8 percent in September.

(Reporting By Lucia Mutikani; Editing by Andrea Ricci)

Jobless claims rise more than expected as hurricane backlog clears

WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits rose more than expected last week, suggesting that claims processing disrupted by recent hurricanes has begun to improve.

Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 239,000 for the week ended Nov. 4, the Labor Department said on Thursday. Claims had fallen to 229,000 in the prior week, near a 44-1/2-year low, and remain well below the 300,000 level generally regarded as signaling a healthy labor market.

Economists polled by Reuters had forecast claims rising to 231,000 in the latest week. They have declined from an almost three-year high of 298,000 hit at the start of September in the aftermath of hurricanes that ravaged parts of Texas, Florida, Puerto Rico and the Virgin Islands.

The Labor Department noted that it is now processing backlogged claims in Puerto Rico though its operations in the Virgin Islands remain severely disrupted.

Last week marked the 139th straight week that claims remained below the 300,000 threshold. That is the longest such stretch since 1970, when the labor market was smaller.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 1,250, to 231,250 last week, the lowest level since March 31, 1973. That suggests ongoing job growth in an economy many regard as near full employment.

The so-called continuing claims rose 17,000 to 1.90 million. Economists polled by Reuters had expected continuing claims of 1.89 million.

The four-week moving average of continuing claims fell 750, to 1.90 million, the lowest level since Jan. 12, 1974, suggesting a continued decline in labor market slack.

(Reporting by Howard Schneider; Editing by Andrea Ricci)

U.S. jobless claims hit more than 44-year low

By Lucia Mutikani

WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits dropped to its lowest level in more than 44 years last week, pointing to a rebound in job growth after a hurricane-related decline in employment in September.

The labor market outlook was also bolstered by another report on Thursday showing a measure of factory employment in the mid-Atlantic region rising to a record high in October. The signs of labor market strength could cement expectations that the Federal Reserve will raise interest rates in December.

Initial claims for state unemployment benefits fell 22,000 to a seasonally adjusted 222,000 for the week ended Oct. 14, the lowest level since March 1973, the Labor Department said.

But the decrease in claims, which was the largest since April, was probably exaggerated by the Columbus Day holiday on Monday.

Claims are declining as the effects of Hurricanes Harvey and Irma wash out of the data. The hurricanes, which lashed Texas and Florida, boosted claims to 298,000 in early September.

A Labor Department official said claims for the Virgin Islands and Puerto Rico continued to be impacted by Irma and Hurricane Maria, which destroyed infrastructure. As a result the Labor Department continued to estimate claims for the islands.

Nonfarm payrolls dropped by 33,000 jobs in September as Hurricanes Irma and Harvey left more than 100,000 restaurant workers temporarily unemployed. The Virgin Islands and Puerto Rico are not included in nonfarm payrolls.

Economists had forecast claims falling to 240,000 in the latest week. The dollar pared losses against a basket of currencies after the data, while prices for U.S. Treasuries were unchanged.

LABOR MARKET TIGHTENING

Last week marked the 137th consecutive week that claims remained below the 300,000 threshold, which is associated with a strong labor market.

That is the longest such stretch since 1970, when the labor market was smaller. The labor market is near full employment, with the jobless rate at a more than 16-1/2-year low of 4.2 percent.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 9,500 to 248,250 last week.

The claims data covered the survey week for October nonfarm payrolls. The four-week average of claims fell 20,500 between the September and October survey periods, supporting views of a rebound in job growth this month.

In a separate report on Thursday, the Philadelphia Fed said its measure of factory employment in the mid-Atlantic region soared 24 points to a record high reading of 30.6 in October.

The average workweek index also increased 8 points to a reading of 19.4. It said no firms reported decreases in employment this month. The robust labor market readings helped to lift the Philadelphia Fed’s current manufacturing activity index four points to a five-month high of 27.9 in October, offsetting declines in new orders and shipments measures.

The claims report also showed the number of people still receiving benefits after an initial week of aid decreased 16,000 to 1.89 million in the week ended Oct. 7, the lowest level since December 1973.

The so-called continuing claims have now been below the 2 million mark for 27 straight weeks, pointing to diminishing labor market slack. The four-week moving average of

continuing claims dropped 22,750 to 1.91 million, the lowest level since January 1974. That was the 25th consecutive week that this measure remained below the 2 million market.

(Reporting by Lucia Mutikani; Editing by Andrea Ricci)

U.S. jobless claims drop to near six-month low

FILE PHOTO: People wait in line to attend TechFair LA, a technology job fair, in Los Angeles, California, U.S., January 26, 2017. REUTERS/Lucy Nicholson/File Photo

By Lucia Mutikani

WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell to near a six-month low last week, pointing to a further tightening in the labor market that could encourage the Federal Reserve to lay out a plan to start unwinding its massive bond portfolio.

Labor market strength was corroborated by other data on Thursday showing manufacturers in the mid-Atlantic region sharply increased hours for workers in August amid a jump in new orders and unfilled orders.

Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 232,000 for the week ended Aug. 12, the Labor Department said.

That was the lowest level since the week ended Feb. 25 when claims fell to 227,000, which was the best reading since March 1973. Data for the prior week was unrevised.

It was the 128th week that claims remained below 300,000, a threshold associated with a robust labor market. That is the longest such stretch since 1970, when the labor market was smaller. The unemployment rate is 4.3 percent.

Economists polled by Reuters had forecast claims dropping to 240,000 in the latest week. A Labor Department official said there were no special factors influencing the claims data and that no states had been estimated.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 500 to 240,500 last week.

Prices of U.S. Treasuries were trading lower as were U.S. stock index futures. The dollar <.DXY> was stronger against a basket of currencies.

LABOR MARKET STRENGTH Last week’s claims data covered the survey week for the August nonfarm payrolls. The four-week average of claims fell 3,500 between the July and August survey periods, suggesting another month of solid job growth.

Payrolls increased by 209,000 jobs in July. The economy has added 1.29 million jobs this year and the unemployment rate has fallen five-tenths of a percentage point.

Labor market tightness has, however, failed to generate strong wage growth, contributing to inflation consistently below the Fed’s 2 percent target.

Minutes of the U.S. central bank’s July 25-26 policy meeting showed policymakers appeared increasingly cautious about weak inflation, with some urging against further interest rate increases.

But labor market strength is probably sufficient for the Fed to outline a proposal to begin offloading its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities at its next policy meeting in September.

Most economists expect another rate hike in December. The Fed has increased borrowing costs twice this year.

In a second report on Thursday, the Philadelphia Fed said its index of manufacturing in the mid-Atlantic region slipped to 18.9 this month from 19.5 in July.

Despite the modest pullback, manufacturers reported increased demand for their products. The survey’s measure of new orders surged to 20.4 from 2.1 in July. Firms also reported that shipments continued to rise.

As a result, workers put in more hours. The average workweek index increased to 18.8 in August from 3.8 in the prior month.

A third report from the Fed showed manufacturing output fell 0.1 percent in July as the production of motor vehicles and parts tumbled 3.6 percent.

(Reporting by Lucia Mutikani; Editing by Paul Simao)

U.S. jobless claims rise; labor market still tightening

FILE PHOTO: Corporate recruiters (R) gesture and shake hands as they talk with job seekers in Washington, June 11, 2013. REUTERS/Jonathan Ernst/File Photo

WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend remained consistent with a tightening labor market.

Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 244,000 for the week ended Aug. 5, the Labor Department said on Thursday.

Data for the prior week was revised to show 1,000 more applications received than previously reported.

Economists polled by Reuters had forecast claims would be unchanged at 240,000 in the latest week. With the labor market near full employment, there is probably limited room for claims to continue declining. Claims have now been below 300,000, a threshold associated with a healthy labor market, for 127 straight weeks. That is the longest such stretch since 1970, when the labor market was smaller. The unemployment rate is 4.3 percent.

Labor market tightness could encourage the Federal Reserve to announce a plan to start unwinding its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities at its policy meeting next month. A Labor Department official said there were no special factors influencing the claims data and that no states had been estimated.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 1,000 to 241,000 last week, the lowest level since May.

The government reported last week that nonfarm payrolls increased by 209,000 jobs in July. The economy has added 1.29 million jobs this year. That has resulted in the unemployment rate dropping five-tenths of a percentage point.

Thursday’s claims report also showed the number of people still receiving benefits after an initial week of aid fell by16,000 to 1.95 million in the week ended July 29. The so-called continuing claims have now been below the 2 million mark for 17straight weeks, pointing to diminishing labor market slack.

The four-week moving average of continuing claims edged up 500 to 1.97 million, still remaining below the 2 million mark for the 15th consecutive week.

(Reporting by Lucia Mutikani; Editing by Paul Simao)

U.S. payrolls increase more than expected, wages rise

FILE PHOTO - Job seekers line up to apply during "Amazon Jobs Day," a job fair being held at 10 fulfillment centers across the United States aimed at filling more than 50,000 jobs, at the Amazon.com Fulfillment Center in Fall River, Massachusetts, U.S., August 2, 2017. REUTERS/Brian Snyder

By Lucia Mutikani

WASHINGTON (Reuters) – U.S. employers hired more workers than expected in July and raised their wages, signs of labor market tightness that likely clears the way for the Federal Reserve to announce next month a plan to start shrinking its massive bond portfolio.

The Labor Department said that nonfarm payrolls increased by 209,000 jobs last month amid broad gains. June’s employment gain was revised up to 231,000 from the previously reported 222,000.

Average hourly earnings increased nine cents, or 0.3 percent, in July after rising 0.2 percent in June. That was the biggest increase in five months. Wages increased 2.5 percent in the 12 months to July, matching June’s gain.

Average hourly earnings have been trending lower since surging 2.8 percent in February. Lack of strong wage growth is surprising given that the economy is near full employment, but July’s monthly increase in earnings could offer some assurance to Fed officials that inflation will gradually rise to its 2 percent target.

Economists expect the Fed will announce a plan to start reducing its $4.5 trillion portfolio of Treasury bonds and mortgage-backed securities in September.

Sluggish wage growth and the accompanying benign inflation, however, suggest the U.S. central bank will delay raising interest rates again until December. The Fed has raised rates twice this year, and its benchmark overnight lending rate now stands in a range of 1 percent to 1.25 percent.

Economists polled by Reuters had forecast payrolls increasing by 183,000 jobs in July and wages rising 0.3 percent.

Wage growth is crucial to sustaining the economic expansion after output increased at a 2.6 percent annual rate in the second quarter, an acceleration from the January-March period’s pedestrian 1.2 percent pace.

The unemployment rate dropped one-tenth of a percentage point to 4.3 percent, matching a 16-year low touched in May. It has declined four-tenths of a percentage point this year and matches the most recent Fed median forecast for 2017. July’s decline in the jobless rate came even as more people entered the labor force.

The labor force participation rate, or the share of working-age Americans who are employed or at least looking for a job, rose one-tenth of a percentage point to 62.9 percent.

Still, some slack remains in the labor market, which is restraining wage growth. A broad measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment, was unchanged at 8.6 percent last month.

July’s employment gains exceed the monthly average of 184,000 for this year. The economy needs to create 75,000 to 100,000 jobs per month to keep up with growth in the working-age population.

Republican President Donald Trump, who inherited a strong job market from the Obama administration, has pledged to sharply boost economic growth and further strengthen the labor market by slashing taxes, cutting regulation and boosting infrastructure spending.

But after six months in office, the Trump administration has failed to pass any economic legislation and has yet to articulate plans for tax reform and infrastructure spending as well as most of its planned regulatory roll-backs.

The jobs composition in July mirrored June’s. Manufacturing payrolls increased by 16,000 jobs. Employment in the automobile sector rose by 1,600 despite slowing sales and bloated inventories that have forced manufacturers to cut back on production.

U.S. auto sales fell 6.1 percent in July from a year ago to a seasonally adjusted rate of 16.73 million units. General Motors Co and Ford Motor Co have both said they will cut production in the second half of the year.

Construction firms hired 6,000 workers last month. Retail payrolls increased by 900 in July as hiring by online retailers more than offset job losses at brick-and-mortar stores.

Companies like major online retailer Amazon are creating jobs at warehouses and distribution centers. Amazon this week held a series of job fairs to hire about 50,000 workers.

Government payrolls gained 4,000 in July.

(Reporting by Lucia Mutikani; Editing by James Dalgleish and Paul Simao)

U.S. private sector adds 178,000 jobs in July: ADP

A sign advertises manufacturing jobs at Ideal Concrete Block Company in Westford, Massachusetts, U.S., July 17, 2017. REUTERS/Brian Snyder

NEW YORK (Reuters) – U.S. private employers added 178,000 jobs in July, below economists’ expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 185,000 jobs, with estimates ranging from 151,000 to 225,000 jobs added.

Private payroll gains in the month earlier were revised up to 191,000 from an originally reported 158,000 increase.

The report is jointly developed with Moody’s Analytics.

The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.

Economists polled by Reuters are looking for U.S. private payroll employment to have grown by 180,000 jobs in July, down from a gain of 187,000 the month before. Total non-farm employment is expected to have increased by 183,000.

The unemployment rate is forecast to tick down to 4.3 percent from the 4.4 percent recorded a month earlier.

(U.S. Financial Markets Team; Editing by Meredith Mazzilli)

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