US private hiring eases unexpectedly in June: ADP
The Peninsula
Washington: Private sector employment cooled unexpectedly last month, payroll firm ADP said Wednesday, adding that job creation in this area has slowe...
Washington: Private sector employment cooled unexpectedly last month, payroll firm ADP said Wednesday, adding that job creation in this area has slowed for a third month.
Job gains came in at 150,000 in June, down from May's 157,000 figure which had been revised upwards, said the report.
Policymakers have been looking to a cooler labor market -- alongside lower inflation -- as they mull the right time to begin interest rate cuts.
The latest number was below a consensus estimate of 163,000 job gains, according to Briefing.com.
The current trend, if it persists, could fuel optimism that the first rate reductions may start sooner rather than later -- after the Federal Reserve has held rates at the highest level in more than two decades in recent months.