Businesses Drastically Reduced New Hires in July According to Private Payroll Processor

Private sector job creation for displaced workers slowed in July, with private payroll increases not meeting the growth expected by economists, CNBC reported.

Economists who were surveyed by Dow Jones expected private-sector employment to increase by 1 million, yet reported an increase of 167,000, CNBC reported. The report was issued by Dow Jones economists and Moody’s Analytics.

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