The private sector lost 33,000 jobs in June, badly missing expectations for a 100,000 increase, ADP says
48d ago
Business
CNBC

Private sector job growth unexpectedly declined in June, according to ADP's latest report. The report showed a loss of 33,000 jobs, a significant deviation from economists' predictions of a 100,000 increase. This marks a notable slowdown in hiring compared to previous months and raises concerns about the labor market's strength. The Dow Jones-polled economists' forecast underscores the surprise nature of the report, suggesting a potential shift in economic momentum. Further analysis is needed to determine the underlying factors contributing to this unexpected downturn.