Yesterday’s News 2025 07 03

curated citations to news sources


monthly change in private-sector employment

WSJ: U.S. Firms Cut Jobs for First Time in Two Years, ADP Report Shows

American employers shed 33,000 staff last month, a new report showed, in an unexpectedly weak readout on U.S. labor-market health.

  • The ADP data undershot consensus expectations for job growth of 100,0000 positions in June, according to economists polled by The Wall Street Journal.
  • It was the first pullback since March 2023.
  • There were notable job losses in professional and business services, and education and health services, but gains in leisure and hospitality, and in manufacturing.
  • “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.
  • Figures for May were revised down, to an increase of 29,000 positions, from an earlier 37,000.


(WSJ more…)

MarketWatch: Be very skeptical of ADP report showing economy lost jobs for the first time in years

WSJ: Hiring Defied Expectations in June, With 147,000 New Jobs

YCharts: June ADP Report vs. Jobs Report: How Advisors Reconcile Conflicting Jobs Data

WSJ: The Jobs Market Is Starting to Fall Apart


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