US private employers added 98,000 jobs in June, according to ADP’s National Employment Report released on July 1. That number came in below the consensus forecast of 113,000 and marked a notable step down from May’s revised figure of 122,000.
Where the jobs went, and where they didn’t
Education and health services carried the load in June, adding 48,000 positions. That single sector accounted for nearly half of all new private jobs.
Trade, transportation, and utilities added 15,000 jobs. Financial activities contributed 14,000, and the information sector chipped in 7,000.
Then there’s leisure and hospitality, which continued to shed workers for the sixth straight month. Six consecutive months of job losses in a single sector isn’t a blip. It’s a trend.
