US small and medium businesses added 142,000 jobs in July: Survey
US small and medium businesses added 142,000 jobs in July: SurveyNew Delhi, Aug 1 (KNN) Small and medium businesses in US accounted for majority of the employment gains in July, adding roughly 142,000 jobs, according to a survey.
US private companies added 200,000 jobs in July, indicating a steady improvement in the labour market, Xinhua citing the National Employment Report said.
That was slightly up from the revised figure of 198,000 in June and the largest monthly gain this year, according to the National Employment Report, released jointly by Automatic Data Processing (ADP) and Moody's Analytics, based on a monthly survey.
“Economists were expecting an increase of 185,000 private jobs this month,” said the report.
Employment in the goods-producing sector rose by 22,000 this month, while the service sector added 177,000 jobs, the largest increase since November 2012.
"Job growth remains remarkably stable," Moody's Analytics chief economist Mark Zandi said.
"The job market has admirably weathered the fiscal headwinds, tax increases and government spending cuts. This bodes well for the next year when those headwinds are set to fade," Zandi added.
The ADP survey studies data from private businesses totalling more than 23 million workers but excludes government job growth.
The Xinhua News Agency is the official press agency of and the biggest centre for collecting information and press conferences in China. (KNN/SD)