The number of new employees added by American companies has dropped to the lowest level since the beginning of the year.

On July 31, Jin10 data reported that the number of new employees added by U.S. companies reached the lowest level since the beginning of the year, in line with signs of softening labor demand. ADP data shows that whether changing jobs or staying in one, the speed of wage rise has dropped to its lowest level since 2021. ADP data is consistent with signs of a gradual slowdown in recruitment. In recent months, the unemployment rate has been rising, as has the number of people applying for unemployment benefits.