ADP reported US private payrolls rose 98,000 in June; private-sector wages were
up 4.4% YoY. Employment gains were uneven: financial activities and information
led growth, while leisure and hospitality hiring was weak for a sixth
consecutive months. ADP chief economist Nela Richardson said, "The pace of hiring
reflects both supply and demand. We know it is taking longer for people to find
jobs, but some sectors show signs of labor supply tightness. For now, the net
The effect is slower employment growth."
