ADP: US private payrolls down by 33,000 in June

(Source: baha news)
UNSPLASH / ROCK STAAR

The number of jobs in the private sector in the United States declined by 33,000 in June, according to the ADP National Employment Report released on Wednesday. The figure came markedly below analysts' expectations.

Job cuts in professional and business services, along with education and health services, were the main contributors to the downturn, jointly making up a loss of 66,000 jobs in the service-providing sector.

"Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month. Still, the slowdown in hiring has yet to disrupt pay growth," ADP Chief Economist Nela Richardson disclosed.

Baha Breaking News (BBN) / MX