ADP Report Shows Slight Rise in Jobs - TheStreet.com

ADP Report Shows Slight Rise in Jobs - TheStreet.com: "The service sector pushed the U.S. job market back into positive territory last month, ADP(ADP - Cramer's Take - Stockpickr) said Wednesday, though the weak housing and manufacturing industries continued to drag on employment.

Private, nonfarm employers added 9,000 workers to their ranks last month, the payroll processor said. The report was much rosier than the 66,000 net loss that economists had expected, according to Briefing.com.

ADP also revised its June figure to show a decline of 77,000 jobs rather than the 79,000 it initially reported. However, its three-month average shows that the economy has done away with 14,000 payrolls, indicating that the job market may have improved but is still relatively weak.

With major companies like Starbucks(SBUX - Cramer's Take - Stockpickr), Ford(F - Cramer's Take - Stockpickr) and United Airlines parent UAL(UAUA - Cramer's Take - Stockpickr) outlining new plans for layoffs or buyout deals on top of those reported throughout the year within the struggling auto, airlines and financial industries, there promises to be more pain ahead."