US Private-Sector Employment Declines Amid Economic Slowdown Concerns

Employment at US companies fell in June for the first time in more than two years, reflecting a drop in services payrolls that may raise concerns about a more pronounced labor market slowdown. Private-sector payrolls decreased 33,000 last month after a downwardly revised 29,000 gain in May, according to ADP Research data released Wednesday.

None of the economists in a Bloomberg survey expected a decline. The sobering numbers came a day after Trump administration data showed job openings unexpectedly rose in May as firings declined. That report exceeded all estimates in a Bloomberg survey of economists.

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New Employment Numbers Ignite US Slowdown Worries
Employment at US companies fell in June for the first time in more than two years, reflecting a drop in services payrolls that may raise concerns about a more pronounced labor market slowdown. Private-sector payrolls decreased 33,000 last month after a downwardly revised 29,000 gain in May, according to ADP Research data released Wednesday.

None of the economists in a Bloomberg survey expected a decline. The sobering numbers came a day after Trump administration data showed job openings unexpectedly rose in May as firings declined. That report exceeded all estimates in a Bloomberg survey of economists.

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