ADP Jobs Report Highlights:
The U.S. economy added 178,000 jobs from June to July according to the ADP National Employment Report. According to the report, small businesses added around 50,000 jobs with firms with fewer than 19 employees adding 27,000 positions. The majority of new jobs were in the business services category with 65,000 followed by education and health services with 43,000. Manufacturing was the only industrial sector to lose jobs shedding 4,000 in the month of July. Construction added 6,000 jobs while mining added 3,000.Mark Zandi, chief economist of Moody's Analytics, said, "The American job machine continues to operate in high gear. Job gains are broad-based across industries and company sizes, with only manufacturers reducing their payrolls. At this pace of job growth, unemployment will continue to quickly decline."
Small businesses added 50,000 jobs in July with 27,000 coming from very small companies with 19 or fewer employees. Most of the jobs are in business services. Very small businesses shed roughly 2000 jobs in the manufacturing sector.
Medium sized businesses added the most in terms of total new jobs with 83,000 and large corporations, companies with 1,000 or more employees added 10,000 jobs.
You can learn more about the ADP National Employment Report here. For insights on the health of small business you can also view the Experian Business Information Map. The map provides a quarterly and annual view by State and Metro of business credit risk scores, delinquency rates in addition to industry-specific data on small business.