Private payrolls in the U.S. increased by more than expected last month as firms stateside got a boost from lower corporate taxes.
ADP and Moody's Analytics said Wednesday jobs in the U.S. increased by 219,000 in July, while economists expected a gain of 185,000. July's job gains were the best since February, when 241,000 jobs were added. Jobs growth for the previous month was also revised up to 181,000 from 177,000.
Medium-sized businesses -- that is, those which employ 50 to 499 people -- added the most payrolls in July as they created 119,000. Larger businesses, meanwhile, expanded their payrolls by 48,000. Small businesses, which employ 49 people or fewer, say payrolls grow by 52,000.
Service-providing companies expanded their payrolls by 177,000, led by gains in education and health services as well as professional services. Education and health services payrolls grew by 48,000 last month, while professional services created 47,000 jobs. Information technology, however, lost 1,000 payrolls in July.
Meanwhile, the goods-producing sector saw payrolls increase by 42,000, led by a 23,000 gain in manufacturing jobs and 17,000 additions in construction.
