U.S. private payrolls growth slows as labor shortages linger

Published by
Reuters

By Lucia Mutikani WASHINGTON (Reuters) – U.S. private payrolls increased far less than expected in July as shortages of workers and raw materials constrained hiring in the manufacturing and construction industries. The fewest job gains in five months shown in the ADP National Employment Report on Wednesday suggested some downside risk to economists’ expectations for another month of solid payrolls growth when the government publishes its more comprehensive, and closely watched employment report for July on Friday. “It suggests that labor shortages are still acute,” said Paul Ashworth, chief U….

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