Private sector hiring slows sharply in July

• August 4, 2021
• realestate
• Announcements, Business & Markets, Politics & Economy, Real Estate Finance, World News, Your Real Estate Life

The U.S. economy added 330,000 private-sector jobs last month, a decline from the downwardly revised 680,000 jobs gained in June, according to the ADP National Employment Report released Wednesday.

U.S. stocks slipped across the board as investors weighed a slowdown in hiring as reported by ADP. The data is often viewed a precursor to the monthly jobs report due Friday. Also vexing the markets, mixed earnings results, as shares of General Motors dropped over 7%. Investors remain skeptical of the ongoing chip shortage plaguing the auto industry.