ADP jobs report shows another blowout month in July
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July ADP Jobs Report: +324K vs. +185K consensus and +455K in June (revised from +497K)
Annual pay increased 6.2%, vs. 6.4% in June and 6.5% in May.
Hospitality and leisure continued to drive the growth, adding 201K jobs, with natural resources and mining also strong, adding 48K jobs in the month.

Service sector jobs increased by 303K, while the goods sector added 21K. Manufacturing lost 36K jobs and financial activities lost 5K.
"The economy is doing better than expected and a healthy labor market continues to support household spending," said Nela Richardson, ADP's chief economist. "We continue to see a slowdown in pay growth without broad-based job loss.

More on Jobs and the Economy:

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