by Calculated Risk on 7/02/2025 08:46:00 AM
From ADP: ADP National Employment Report: Private Sector Employment Shed 33,000 Jobs in June; Annual Pay was Up 4.4%
“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” said Dr. Nela Richardson, chief economist, ADP. “Still, the slowdown in hiring has yet to disrupt pay growth.”
emphasis added
This was well below the consensus forecast of 110,000 jobs added. The BLS report will be released Thursday, and the consensus is for 129,000 non-farm payroll jobs added in June.