U.S. private sector adds more jobs than expected in July
Employers added 179,000 jobs last month, beating expectations for a 170,000 jump. The June figure was revised up to show that 176,000 jobs had been added versus 172,000 previously.
Small businesses with fewer than 50 employees accounted for 61,000 of the jobs added to the economy, down from 86,000 in June.
Medium-sized businesses, with between 50 and 499 staff, added 68,000 jobs, up from last month's 56,000.
Meanwhile, employment at large companies with 500 or more employees increased by 50,000, up from June's 34,000.
In terms of sectors, jobs growth was not balanced. The services sector added 185,000 jobs, transport and utilities added 27,000, financial activities added 11,000 workers and professional and business added 59,000, while manufacturing made a 4,000 contribution.
On the downside, the goods-producing sector lost 6,000 jobs, as did construction. ■