Reprinted from The Washington Post by Shobhana Chandra on August 1, 2018.
Companies added the most workers in five months to US payrolls in July, a sign hiring remains strong despite a shrinking pool of qualified workers and headwinds from trade, according to data released Wednesday from the ADP Research Institute in Roseland, New Jersey.
The results, coming ahead of the monthly jobs report due from the Labor Department on Friday, are a positive sign for private payrolls. Demand for labor increased across a range of industries including professional and business services, health care and social assistance, leisure and hospitality, manufacturing and construction, the ADP report showed.
Employment growth, along with lower taxes and contained inflation, is helping to boost consumer spending, the biggest part of the economy. That’s also helping to cushion the headwinds from uncertainty related to import tariffs. Even with the labor market remaining solid, a sustained acceleration in wages has proved elusive so far in this expansion. …