Private sector employment shed 33,000 jobs in June, according to the latest ADP report. The losses are the first reduction since March 2023. The latest reading was lower than the expected 99,000 addition.
“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” Nela Richardson, ADP’s chief economist, said.
The sector with the largest growth in June was goods-producing which rose by 32,000. The biggest loser last month was Service providing with a loss of 66,000 job.
