The US private sector generated 330,000 new jobs last July, the lowest figure since February and almost half that expected by the consensus of analysts, according to the survey carried out by the consultancy ADP.
The 330,000 new jobs created in July contrast with 680,000 in June and 882,000 in May, confirming a sharp slowdown in the pace of job creation in the world’s leading economy after the first months once the restrictions were relieved.
By size, small companies created 91,000 new jobs in July and medium-sized companies 132,000, while large US companies created 106,000 new jobs.
In terms of the sectors, leisure and hospitality generated 139,000 jobs in July, ahead of the 64,000 jobs created in the health sector and education, while the information sector was the only one that destroyed jobs, with the loss of a thousand positions.
“The labor market recovery continues to show uneven progress, but progress nonetheless,” said Nela Richardson, ADP’s chief economist, noting that the slowdown in the recovery affected companies of all sizes.
“Hiring bottlenecks continue to hold back stronger improvements, particularly in light of new concerns about new variants of Covid-19,” he added.