ADP · News · 20260805N

Macroeconomic Factors Impact

AUTOMATIC DATA PROCESSING INC · 2026-08-05 · Importance 22 · Surprise 32

ADP’s July 2026 National Employment Report showed U.S. private-sector employment increased by only 44,000 jobs, the smallest increase in six months. The report indicated annual pay growth of 4.4% for job-stayers and 7.0% for job-changers, signaling continued wage pressure despite soft hiring. Education and health services led job gains, while leisure and hospitality declined, indicating uneven labor-market conditions that may affect employer demand for payroll and HCM services.

Key facts

• Spot gold prices pushed above $4,200 an ounce following ADP's report of 44,000 private-sector jobs created in July. source