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ADP Reports Private Sector Job Growth Slowed in July as Gold Prices Rise

Private sector employment in the United States grew by 44,000 jobs in July, a figure that fell short of the 75,000 jobs expected by economists. The report, released by payroll processing firm ADP, indicates a cooling labor market as hiring slowed considerably compared to the previous month's revised figure of 95,000. While job growth was modest, wage inflation showed significant momentum. Workers who remained in their roles saw annual pay increases of 4.4 percent, while those who switched jobs experienced a 7 percent increase, the highest growth rate since August 2025. The education and health services sector led the hiring gains, adding 36,000 positions. Conversely, the goods-producing sector saw a decline of 3,000 jobs. These labor market shifts have influenced the gold market, with spot gold prices rising more than 3 percent to over $4,200 an ounce. Analysts suggest the Federal Reserve may face pressure to support the job market while managing rising wage inflation.

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