by Calculated Risk on 8/02/2023 08:20:00 AM

From ADP: ADP National Employment Report: Private Sector Employment Increased by 324,000 Jobs in July; Annual Pay was Up 6.2%

Private sector employment increased by 324,000 jobs in July and annual pay was up 6.2 percent year-over-year, according to the July ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”).
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“The economy is doing better than expected and a healthy labor market continues to support household spending,” said Nela Richardson, chief economist, ADP. “We continue to see a slowdown in pay growth without broad-based job loss.”
emphasis added

This was above the consensus forecast of 185,000. The BLS report will be released Friday, and the consensus is for 184 thousand non-farm payroll jobs added in July.