Private sector job growth slows in June to just 150,000, worse than expected

Hiring by U.S. companies slowed more than expected in June, pointing to a labor market that is continuing to cool in the face of higher interest rates, according to the ADP National Employment Report released Wednesday morning.

Companies added 150,000 jobs last month, missing the 160,000 gain that economists surveyed by Refinitiv predicted and down from the revised 157,000 figure in May.

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