US Private Hiring Slowed to 16,500 a Week in Late June
ADP's weekly hiring estimate fell for a fourth straight period, averaging 16,500 new private-sector jobs in the final weeks of June, down from 19,750.
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US private employers added an average of 16,500 jobs a week over the four weeks ending July 4, down from 19,750 in the prior period, according to ADP's weekly NER Pulse estimate.
That marks the fourth straight weekly decline in the reading. The figures are preliminary and may change as new data comes in.
ADP publishes the NER Pulse three times a month, tracking week-over-week employment change through a four-week moving average. The data is seasonally adjusted with a two-week lag. The firm does not release the Pulse during weeks when its full monthly National Employment Report, built around the reference week containing the 12th of the month, is published.
The slowdown comes ahead of Wednesday's ADP National Employment Report for June, which will offer a broader snapshot of the labor market before the Bureau of Labor Statistics' official nonfarm payrolls print on Friday.
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