Roseland-based ADP reported Wednesday that private-sector employment increased by 218,000 jobs from June to July.
"Although down from June, the July jobs number marks the fourth straight month of employment gains above 200,000,” Carlos Rodriguez, president and CEO of ADP, said in a news release.
The monthly National Employment Report found that small businesses with fewer than 50 employees accounted for 84,000 gains, while medium businesses with 50 to 499 employees added 92,000 jobs and large businesses with more than 500 employees added 41,000.
"The July employment gain was softer than June, but remains consistent with a steadily improving job market,” Mark Zandi, chief economist of Moody’s Analytics, said in the release. “At the current pace of job growth, unemployment will quickly decline. Layoffs are still receding and hiring and job openings are picking up. If current trends continue, the economy will return to full employment by late 2016.”
The services industry was responsible for the vast majority of new jobs, adding 202,000, compared with 16,000 in the goods-producing industries. The largest sectors for hiring were professional and business services, which added 61,000 jobs, and trade, transportation and utilities, which added 52,000.
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