"ADP jobs report: Private employers added 163,000 jobs" By Tami Luhby @CNNMoney

ADP jobs report: Private employers added 163,000 jobs

By Tami Luhby @CNNMoney

http://money.cnn.com/2012/08/01/news/economy/adp-jobs-report/index.htm?hpt=hp_bn1

"SNIP......................................

Businesses added 163,000 jobs last month, according to payroll-processing company ADP. Economists surveyed by Briefing.com predicted the figure would come in at 125,000.

Still, that's less than the 172,000 added in June, which was revised down slightly from ADP's initial report.

The ADP jobs report strengthens the view that the pace of hiring has picked back up after slowing sharply in the spring, said Joel Prakken, chairman of Macroeconomic Advisers.

"Today's estimate from ADP, if re-enforced by a similar reading on employment from the BLS on Friday, will alleviate concerns that the economy has slipped into a downturn," Prakken said.

......................................SNIP"