ADP Jobs Preview: 104K Private Payroll Gain in July 2025 Signals Labor Market Resilience Before BLS Report
ADP Jobs Preview: 104K Private Payroll Gain in July 2025 Signals Labor Market Resilience Before BLS Report Key Takeaways Private payrolls surged by 104,000 in July, reversing June’s 23,000 loss . Leisure/hospitality (+46K) and financial activities (+28K) led gains; education/health services bled 38,000 jobs . Western states dominated hiring (+75K); the Northeast shed 18,000 positions . Wages held steady: job-stayers earned 4.4% more year-over-year; job-changers saw 7% bumps . The Fed faces pressure to delay rate cuts amid sticky wage growth and resilient labor demand . The Numbers Came In The ADP Research Institute dropped its July report. 104,000 private jobs materialized. Economists expected 76,000. June’s loss got revised too, only 23,000 jobs vanished, not 33,000 . The optimists grinned. The doomsayers shuffled their feet. Nela Richardson, ADP’s chief economist, called it a “healthy economy.” Employers believe consumers will keep spending . The six-month moving average? 67,000. The...