ADP Report Shows Private Sector Job Losses in June Amid Mixed Market Response
TL;DR Summary
The ADP report showing a decline of 33,000 private sector jobs in June is likely unreliable, as ADP's data often diverges from the official BLS figures. While ADP suggests a slowdown, the broader trend indicates the labor market remains relatively resilient, influencing Federal Reserve decisions on interest rate cuts. Investors should be cautious in interpreting ADP's findings, as they are not a definitive predictor of official employment data.
- Be very skeptical of ADP report showing economy lost jobs for the first time in years MarketWatch
- Stock market today: Dow, S&P 500, Nasdaq trade mixed after surprise ADP jobs reading Yahoo Finance
- The private sector lost 33,000 jobs in June, badly missing expectations for a 100,000 increase, ADP says CNBC
- US private payrolls post first drop in more than two years; layoffs still low Reuters
- ADP National Employment Report: Private Sector Employment Shed 33,000 Jobs in June; Annual Pay was Up 4.4% PR Newswire
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