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- U.S. private employers add 102,000 jobs in June - ADP
U.S. private employers add 102,000 jobs in June - ADP
The employment
report prepared by Automatic Data Processing Inc. (ADP) and Moody's Analytics
showed on Wednesday the U.S. private employers added 102,000 jobs in June.
Economists had
expected a gain of 140,000.
The increase
for May was revised up to 41,000 from the originally reported 27,000.
“Job growth
started to show signs of a slowdown,” said Ahu Yildirmaz, vice president and
co-head of the ADP Research Institute. “While large businesses continue to do
well, small businesses are struggling as they compete with the ongoing tight
labor market. The goods-producing sector continues to show weakness. Among
services, leisure and hospitality’s weakness could be a reflection of consumer confidence.”
Meanwhile, Mark
Zandi, chief economist of Moody’s Analytics, said, “The job market continues to
throttle back. Job growth has slowed sharply in recent months, as businesses
have turned more cautious in their hiring. Small businesses are the most
nervous, especially in the construction sector and at bricks-and-mortar retailers.”
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