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Private-sector jobs rise 48,000, weakest since 2004

ADP report suggests nonfarm payrolls could be weaker than forecast.

WASHINGTON (MarketWatch) -- Employment in the U.S. private sector grew by 48,000 in July, the weakest growth in nearly four years, according to the ADP employment report released Wednesday.
The ADP report suggests nonfarm payrolls may have grown much slower than the 133,000 anticipated by economists ahead of the report. Several economists lowered their forecasts for nonfarm payrolls following the ADP release, but the MarketWatch survey still shows a median forecast of 133,000. See Economic Calendar.
Adding in some 27,000 government jobs typically added but not covered by the ADP report, it suggests nonfarm payrolls grew by about 75,000 in July, which would be the lowest since November 2004. The Labor Department will report on the nonfarm payrolls number on Friday. Via MarketWatch