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Financial News: U.S. Private Sector Employment Rises Less Than Expected

U.S. Private Sector Employment Rises Less Than Expected In June

07/03/2019 - 08:23:00 (RTTNews)

(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector job growth reaccelerated in the month of June but still came in below economist estimates.

ADP said private sector employment climbed by 102,000 jobs in June after rising by an upwardly revised 41,000 jobs in May.

Economists had expected employment to increase by about 140,000 jobs compared to the addition of 27,000 jobs originally reported for the previous month.

"Job growth has slowed sharply in recent months, as businesses have turned more cautious in their hiring," said Mark Zandi, chief economist of Moody's Analytics.

He added, "Small businesses are the most nervous, especially in the construction sector and at bricks-and-mortar retailers."

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