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Private sector adds 48,000 jobs in July-report

NEW YORK
Wed Aug 1, 2007 8:50am EDT
A man walks past a Now Hiring sign in Boston in a file photo. Private employers likely added a much lower-than-expected 48,000 jobs in July, according to a report on Wednesday by ADP Employer Services. REUTERS/Jim Bourg

NEW YORK (Reuters) - Private employers likely added a much lower-than-expected 48,000 jobs in July, according to a report on Wednesday by ADP Employer Services.

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The result was down from an increase of 143,000 private sector jobs in June, which was revised lower from the 150,000 jobs reported one month ago by ADP. The employment report was jointly developed with Macroeconomic Advisers LLC.

Economists polled by Reuters had forecast a result of 100,000 for July.

U.S. stock futures extended the day's losses after the ADP data and the dollar slipped versus the euro and yen. Prices on U.S. government bonds, which usually gain on signs of economic weakness, briefly ticked higher after the report.
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