The numbers: U.S. private-sector employment jumped by 324,000 in July, payroll processor ADP said, as businesses hired more workers to keep up with rising demand for services such as travel, fine dining and recreation.“The economy is doing better than expected and... The numbers: U.S. private-sector employment jumped by 324,000 in July, payroll processor ADP said, as businesses hired more workers to keep up with rising demand for services such as travel, fine dining and recreation.
Key details: Nearly two-thirds of the new jobs created in July were at hotels, restaurants and other companies that provide leisure and hospitality. Employment in these areas nosedived during the pandemic and are only now recovering to precrisis levels. Small and medium-size firms did most of the hiring last month. Employment actually fell at large companies.