ADP: Private Sector Added Only 98K Jobs in June — Weakest in 3 Months
U.S. private sector hiring slowed sharply in June, with ADP reporting just 98,000 new jobs — the softest monthly gain in three months and a notable miss relative to consensus expectations. The report signals a meaningful deceleration in labor demand from earlier in the year. While ADP and the official government payrolls number don't always move in lockstep, a miss of this magnitude tends to set the tone heading into the Friday nonfarm payrolls release.
A weaker labor market gives the Federal Reserve more room to cut interest rates sooner, which is generally supportive for stocks and bonds — but it also raises recession risk if the slowdown deepens. Rate-sensitive assets like long-duration Treasuries and growth stocks could rally on renewed rate-cut hopes, while cyclical sectors like financials and industrials may face pressure if investors begin pricing in a harder landing.
July 3: Official U.S. nonfarm payrolls report (Bureau of Labor Statistics). July 30: Next Federal Reserve FOMC meeting decision.
- U.S. private sector adds 98K jobs in June, softer than consensus: ADP jobs report · Seeking Alpha
- Businesses add 98,000 jobs in June, ADP says. Labor market on the mend, but it's still not great. · MarketWatch
- ADP: US job growth slows in June with only 98,000 new positions · Handelsblatt
- Bonds Rally as Weak Jobs Report Dims Fed Rate-Hike Expectations · Bloomberg
- Wall Street opens higher after June jobs report eases rate-hike bets · Investing.com
- Labor market: US companies create significantly fewer jobs than expected · Handelsblatt
- US job growth misses expectations in June; unemployment rate falls to 4.2% · The Straits Times Business
- Wall Street: US stocks gain ground – Dow Jones hits record · Handelsblatt
- Wall Street: US stocks mixed as Dow Jones hits record · Handelsblatt
- More fizzle than sparkle: June jobs report fails to launch a July 4 firework · Fortune
- White-collar workers received raises during pandemic but wage growth has stalled · Quartz
- Bitcoin price taps new July high above $62K on weak US jobs data · Cointelegraph
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