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ADP US National Employment Report: Private Sector Employment Shed 33,000 Jobs in June; Annual Pay was Up 4.4%
Private sector employment shed 33,000 jobs in June and annual pay was up 4.4 percent year-over-year, according to the June ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure and high-frequency view of the private-sector labor market based on actual, anonymized payroll data of more than 25 million U.S. employees. The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data to provide a representative picture of the private-sector labor market. ... (full story)
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The private sector lost 33,000 jobs in June, badly missing expectations for a 100,000 increase, ADP says
Private sector hiring unexpectedly contracted in June, payrolls processing firm ADP said Wednesday, in a possible sign that the economy may not be as sturdy that investors believed as they bid the S&P 500 back up to record territory to end the month. Private payrolls lost 33,000 jobs in the June, the ADP report showed. Economists polled by Dow Jones forecast an increase of 100,000 for the month. The May job growth figure was revised even lower to just 29,000 jobs added from 37,000. “Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last ... (full story)
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