AP Photo/Evan Vucci Even with the usual caveat about the poor reliability of this metric as a predictive indicator, this looks like bad news. For the second straight month, ADP projects a decline in job growth, with this big swing and a miss on expectations in July. They show 330,000 jobs added, almost exactly half of what economists expected to see: Private sector employment increased by 330,000 jobs from June to July according to the July ADP® National Employment ReportTM. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.