U.S. Private Sector Employment Increases Less Than Expected In June

ADP reported U.S. private-sector employment increased in June by less than expected, signaling softer labor momentum. The weaker-than-consensus print is likely to temper expectations for the pace of labor-led growth and could influence rate and yield expectations.

Analysis

ADP reported U.S. private-sector employment increased in June by less than expected, signaling softer labor momentum. The weaker-than-consensus print is likely to temper expectations for the pace of labor-led growth and could influence rate and yield expectations.