Source: MarketWatch
“Privately run businesses reduced jobs in June for the first time in more than two years, ADP said, as U.S. trade wars created a ‘hesitancy to hire and a reluctance to replace departing workers.’ Companies eliminated 33,000 jobs last month, the payroll processor said, marking the first decline since March 2023. Economists surveyed by the Wall Street Journal had forecast 100,000 new jobs. … One big caveat: ADP is a poor predictor historically of the official U.S. jobs report that follows a few days later. The two reports often differ by 50,000 or more a month.” (07/02/25)