
June Private Payrolls Rise 98,000, Missing Forecasts as Hiring Slows
Private-sector hiring cooled in June, with U.S. companies adding a seasonally adjusted 98,000 jobs, according to the ADP National Employment Report released July 1. The figure fell short of economist forecasts near 110,000 to 120,000 and marked a decline from May’s 122,000, adding to signs that job creation is losing momentum ahead of the government’s more closely watched payrolls report. Key Takeaways ADP reported private employers added 98,000 jobs in June, below consensus estimates and down from May’s 122,000. Education and health services contributed 48,000, nearly half the month’s total. Annual pay growth held at 4.4% for job-stayers and 6.6% for job-switchers. Small businesses led hiring with 53,000 jobs; natural resources and mining was the only sector to shed positions. The report preceded the Bureau of Labor Statistics nonfarm payrolls print, where Wall Street expected a 115,000 gain. What the ADP Report Showed The ADP National Employment Report, produced by ADP Research in collaboration with the Stanford Digital Economy Lab, put June private-sector job growth at a seasonally adjusted 98,000. That undershot the Dow Jones consensus of 110,000 and the Bloomberg survey median of about 120,000, and it came in below May’s unrevised 122,000, which had been the strongest monthly













































