ADP's July jobs report showed only 44,000 private payrolls added, far below forecasts, signaling a cooling labor market with big implications for

Small businesses had boosted the private sector’s hiring rate in recent months.

Hiring at private companies slowed considerably in July, with most of the job growth coming health care.

American businesses added fewer jobs in July than experts had predicted, with private payrolls up by just 44,000— the weakest increase this year. Conversely, job switchers enjoyed…