The non-farm private sector lost 33,000 jobs in June, and annual pay was up 4.4% year-over-year, according to the ADP National Employment Report. This follows a downward revision of May’s report from 37,000 jobs added to 29,000.
Small businesses with fewer than 50 employees lost 47,000 jobs. Medium-sized businesses with 50–499 employees lost 15,000 jobs, and large businesses gained 30,000 jobs.
“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month. Still, the slowdown in hiring has yet to disrupt pay growth,” said Nela Richardson, Chief Economist at ADP.
Service-providing employment lost 66,000 jobs, driven by losses in professional and business services, which shrank by 56,000, followed closely by education and health services, which shrank by 52,000.
Goods-producing employment gained 32,000 jobs across the board. Construction gained 9,000 jobs, manufacturing gained 15,000 jobs, and natural resources/mining gained 8,000 jobs.
Read the ADP report.
