July's employment report from Automatic Data Processing represented another month of strong growth, despite showing fewer gains than June's release. According to ADP, businesses added 218,000 employees over the month, making July the fourth straight month of job gains above 200,000. Mark Zandi, chief economist at Moody's Analytics, noted in the report that full employment could be possible by the end of 2016 given current trends.
Employment grew across all sectors that the ADP report tracks. Professional and business services led hiring, adding 61,00 employees over the month. Trade, transportation, and utilities also had a strong performance, gaining 52,000 workers.
Midsize employers, which have between 50 and 499 staff members, grew the most overall, filling 92,000 positions. The smallest companies, with fewer than 50 employees, followed closely behind, adding 84,000 workers. Large businesses gained less than half what small ones did, growing the workforce by 41,000.
A report from Paychex measuring only small business employment also found growth in the market. Although hiring at small companies declined 0.15 percent on average over the last three months, employment picked up in July, growing 0.03 percent. That small shift has kept the hiring rate for these employers above the level that was achieved at any point in 2013.