ADP employment hit a new year-low, and the Federal Reserve's policy path faces more challenges.

According to the Zhitong Finance APP, data released by ADP Research on Wednesday showed that the number of new jobs added in the U.S. private sector in July was 44,000, lower than market expectations, marking the smallest increase since the beginning of the year and indicating a cooling of the recent strong hiring momentum. The previous figure was revised to 95,000. The new jobs added in July fell short of the expectations of all economists surveyed. Although hiring has slowed, the report indicates that wage growth for job switchers has accelerated to the highest level in nearly a year.