The, ‘Big, Ugly Bill’ has not even completely passed both chambers of Congress nor reached The Fascist Felon’s desk for signature and the private sector lost 33 thousand jobs in June; badly missing the expectation of gaining 100 thousand jobs.
Key Points:
- Private sector hiring unexpectedly contracted in June, payrolls processing firm ADP said Wednesday.
- It’s a potential sign that the economy may not be as sturdy as investors believe.
“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” Nela Richardson, ADP’s chief economist, said in a press release published Wednesday morning.
Private sector hiring unexpectedly contracted in June, payrolls processing firm ADP said Wednesday, in a possible sign that the economy may not be as sturdy as investors believe as they bid the S&P 500 back up to record territory to end the month.
Private payrolls lost 33,000 jobs in June, the ADP report showed, the first decrease since March 2023. Economists polled by Dow Jones forecast an increase of 100,000 for the month. The May job growth figure was revised even lower to just 29,000 jobs added from 37,000.
Other Key Points:
- Bulk of job losses came in service roles tied to professional and business services and health and education
- Professional/business services notched a decline of 56,000
- Health/education saw a net loss of 52,000.
- Financial activity roles decline 14,000
- Goods-producing positions grew by 32,000 in the month
- payrolls for service roles overall fell by 66,000
- The Midwest and Western U.S. saw the strongest contractions in June, declining by 24,000 and 20,000, respectively.
- The Northeast shed 3,000 roles
- The Southern U.S. was the sole region tracked by the ADP to see payrolls expand on net in the month, recording an increase of 13,000 positions.
Smaller businesses suffered the worst:
- Businesses with more than 500 employees saw the biggest payroll growth in the month with an increase of 30,000, per ADP.
- Businesses with fewer than 20 employees accounted for 29,000 lost roles on net.
Watch ‘Shock Faced’ Maria:
Another funeral on Maria’s show as the latest economic numbers come in. It’s becoming a weekly feature of The Golden Age. bsky.app/profile/atru…
— Ron Filipkowski (@ronfilipkowski.bsky.social) July 2, 2025 at 6:07 AM
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Listen to the whole thing— it’s impressively deranged. “Jobs down, economy softening, here’s why that’s great news for Trump” stuff.
— Jacob T. Levy (@jacobtlevy.bsky.social) July 2, 2025 at 6:17 AM
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