Taco's Job Losses

Wednesday, July 02, 2025

The U.S. private sector lost 33K jobs in June, a reversal from the 29K jobs added in May, which was revised down from +37K, and trailing the +103K consensus, according to data released by ADP on Wednesday. "Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month," said Nela Richardson, chief economist at ADP. "Still, the slowdown in hiring has yet to disrupt pay growth."

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Annual pay increased 4.4% in June, cooling slightly from 4.5% in May.

Pay growth for those changing jobs eased to 6.8% from 7.0% in the prior month.

The downswing in employment came from the services sector, which lost 66K jobs, while the goods-producing sector added 32K jobs.

The lion's share of job losses came in professional and business services (-56K) and education and health services (-52K). Those were partly offset by gains in leisure and hospitality (+32K) and trade, transportation and utilities (+14K).

In the goods-producing sector, manufacturing added 15K jobs, construction added 9K,and natural resources and mining added 8K.

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