Private sector adds 114,000 jobs in July: ADP

Reuters

NEW YORK (Reuters) - Private employers added 114,000 jobs in July, topping economists' expectations, a report by a payrolls processor showed on Wednesday.

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JOHN CANALLY, INVESTMENT STRATEGIST AND ECONOMIST, LPL FINANCIAL, BOSTON

"Expectations for this kind of data has been lower. It doesn't suggest that you're in a recession at all; it doesn't suggest a double dip recession at all. That being said, employers are still being cautious."

"We're not falling off the table, but we're not booming. This ADP report has been all over the map. It was good for a while, then it stopped being good. I think the market has largely dismissed this one."

"What happens with this ADP report is it does collect data from ADP itself, but it also takes the claims data, and the number of claims fell between June and July. So it's been all over the map. If it were negative data, we would've seen a 2-percent drop. But I think the markets are largely numbed."

OMER ESINER, CHIEF MARKET ANALYST, COMMONWEALTH FOREIGN EXCHANGE, WASHINGTON

"It is mostly in line with expectations. It is encouraging that the number did not disappoint but it is still hard to be overly optimistic given the earlier report on layoffs from Challenger. On balance investors are still nervous before Friday's broader payrolls data."

KURT KARL, CHIEF ECONOMIST, SWISS RE, NEW YORK

"It's better than expected so that's good news. It would be really disappointing if it were 50,000. This implies that employment growth continues. It's weak but not anemic. It's good but not great news for the economy."

THEODORE LITTLETON, ECONOMIST, IFR ECONOMICS, A UNIT OF THOMSON REUTERS

"That's roughly consistent with the consensus expectation of a 100k gain, and shouldn't alter projections for Friday's BLS figures."

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