ADP says businesses add the fewer new jobs in six months

ADP Research data reveals that US businesses added only 44,000 new jobs in July, representing the smallest increase in six months. This figure follows a revised 95,000 increase from the previous month. The results indicate a sluggish labor market where hiring remains unusually soft, with private payroll growth coming in lower than expected. These findings were reported by Michael McKee on Bloomberg Television, highlighting the current trend of slowing employment growth across US companies.