Private-sector hiring cooled sharply in July, but employers are still paying more to attract and retain workers, highlighting a labor market that remains tighter than headline job numbers suggest.
Private employers added just 44,000 jobs in July, according to ADP data released on Wednesday, marking the weakest monthly gain since January and reinforcing concerns that businesses are becoming more cautious about expanding their workforces. Yet at the same time, wage growth accelerated, particularly for workers switching jobs.
