Pedestrains walk past the building of the New York Stock Exchange NYSE in New York, the United States, on July 6, 2023. U.S. stocks ended lower on Thursday as strong private hiring data fueled bets the Federal Reserve will have to take a more aggressive approach to tame inflation, which sent U.S. Treasury yields higher and weighed on equity markets. (MICHAEL NAGLE/GETTY PHOTO)
The American labor market is demonstrating remarkable resilience, as evidenced by the latest employment report from Automatic Data Processing Inc.(NASDAQ:ADP). In July, the pace of new job growth experienced a modest decline, dropping from almost half a million new jobs in June to 324,000, still significantly surpassing economist expectations of 189,000 new employees.
Pedestrains walk past the building of the New York Stock Exchange NYSE in New York, the United States, on July 6, 2023. U.S. stocks ended lower on Thursday as strong private hiring data fueled bets the Federal Reserve will have to take a more aggressive approach to tame inflation, which sent U.S. Treasury yields higher and weighed on equity markets. (MICHAEL NAGLE/GETTY PHOTO)
Sign up to read this article
Read news from 100's of titles, curated specifically for you.
