Private payroll growth slowed to 122,000 in July, less than expected, ADP says

This statement indicates that the growth of private payrolls in July was slower than anticipated, with only 122,000 new payrolls added. ADP, which stands for Automatic Data Processing, is a company specialized in human resources management software and services. They provide regular reports on employment trends. The slower growth rate could suggest a slowdown in job creation or a smaller-than-expected expansion in the private sector.