US Private Sector Adds 98,000 Jobs in June as Job-Stayer Pay Holds at 4.4%
Updated
Updated · tedmag.com · Jul 6
US Private Sector Adds 98,000 Jobs in June as Job-Stayer Pay Holds at 4.4%
2 articles · Updated · tedmag.com · Jul 6
Summary
98,000 private-sector jobs were added in June, down from 122,000 in May, as ADP said overall hiring slowed.
4.4% median pay growth for job-stayers was unchanged, while job-changer pay gains accelerated to 6.6%, suggesting wage pressure persisted even as job creation cooled.
96,000 of the new jobs came from services, led by education and health services at 48,000; leisure and hospitality added just 2,000 for a sixth straight month of weak hiring.
53,000 jobs came from small businesses, and the South led regional gains with 37,000, pointing to uneven hiring by company size and geography.
ADP said the labor market is being shaped by both slower demand and labor-supply constraints in some industries, reinforcing signs of a broader hiring slowdown.