Private Sector Shed 33,000 Jobs in June, Far Short of Market Estimates

Hiring in the private sector contracted in June, marking the first decline since March 2023, which suggests the U.S. labor market’s softness may be accelerating.

According to payroll processor ADP’s National Employment Report, private sector payrolls fell by 33,000 last month, down from May’s downwardly revised 29,000 position.