Private sector employment in the US increased by 150,000 jobs in June, falling short of the expected 160,000, according to the latest report from Automatic Data Processing (ADP) released today. This figure marks a slight decline from May's revised increase of 157,000 jobs.
Annual wage growth was reported at 4.9% year-over-year, reflecting ongoing pressures in the labor market despite moderated job gains.
Nela Richardson, chief economist at ADP, commented, "Job growth has been solid, but not broad-based. June showed a rebound in hiring in leisure and hospitality, mitigating what would have otherwise been a more subdued month."
The US Dollar Index dipped 0.1% following the release of the ADP Employment Change data, indicating a cautious market response to the figures.
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