The private sector in the United States created 122,000 jobs in July, below expectations, according to the results of the monthly survey published Wednesday by specialist firm ADP.

Economists were forecasting around 160,000 job creations for comparison.000 job creations.

The human resources firm points out that wage growth slowed to 4.8% year-on-year in July, a deceleration it attributes to the Fed's efforts to counteract inflation.

If inflation ever picks up again, it won't be because of labor," warns Nela Richardson, ADP's chief economist.

The ADP survey is published two days before the Labor Department's monthly report, which is expected by consensus to show a slowdown in job creation, to 160,000 in July from 206,000 in June.

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