U.S. job growth rebounded in July, with the ADP National Employment Report showing an increase of 104,000 private-sector jobs, the largest gain since March. The figure easily beat economist expectations for a 75,000 rise, signaling resilience in the labor market despite tightening financial conditions.
The report also revised June’s ADP figure to show a smaller decline — from an initial estimate of –33,000 jobs to –23,000.