Two reports sent mixed signals about the job market Wednesday.
Companies added 114,000 jobs in July, but job cuts rose to a 16-month high, according to two private reports. The numbers come two days before Friday's official July jobs report from the Labor Department.
Payroll processor ADP said employment in the services sector rose 121,000 last month, but goods-producing jobs fell by 7,000. The report "suggests that employment continued to advance at a moderate pace in July," but employment is decelerating, ADP said.