The U.S. economy created more private jobs than expected in July, though hiring has not been rapid enough to lessen the severe unemployment rate, payrolls firm ADP said Wednesday. Around 42,000 private-sector jobs were created following a revised June number of 19,000, ADP said ahead of a key government employment report to be released on Friday. Most economists had expected 25,000 jobs to be established in July-the sixth consecutive monthly gain amid increasing signs that the U.S. economic recovery is slowing. But ADP warned that the private job increases so far this year had averaged a mere 37,000, "with no evidence of acceleration." The government will release the July employment report on Friday with most analysts expecting non-farm payrolls to fall by 87,000 in July and the unemployment rate to edge up to 9.6 percent from 9.5 percent at present.
