ADP Employment Report Shows Job Gains Stalled In June, Weakest Since Feb
Analysts expected a 7th straight month of ‘solid’ employment gains in July, forecasting ADP to show the US economy added 683k jobs (despite recent weakness in ISM Employment data). They were wrong, very wrong!
ADP printed a miserly addition of just 330k jobs in June (less than half the expected rise)… and well below the consensus forecast for Friday’s payrolls print.