ADP says businesses added the fewest new jobs in six months. A summer slowdown in hiring?
ADP reports 44,000 jobs added in July, weakest in six months, signaling labor-market slowdown.
· Source: marketwatch.com
ADP's July jobs report showed 44,000 new hires, the smallest monthly increase in six months, suggesting a meaningful deceleration in labor demand. This data arrives ahead of Friday's official BLS nonfarm payrolls report and reinforces recent Fed commentary about cooling labor conditions. For traders, this weakens the case for sustained higher rates and could shift positioning toward rate-cut scenarios, particularly if the official jobs print disappoints further.
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