The U.S. private sector unexpectedly shed 33,000 jobs in June, marking the first time the ADP survey reported falling job numbers in over two years. This figure is a decline from a downwardly revised 29,000 increase in jobs in May.
Nela Richardson, ADP's chief economist, noted that while layoffs remain rare, a hesitancy to hire and a reluctance to replace departing workers contributed to the job losses. This indicates growing economic uncertainty among employers.
The report showed a divide between major sectors, with services shedding 66,000 jobs, while goods producers increased payrolls by 32,000. Job losses were particularly notable in professional and business services, alongside education and health services.
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