{"id":1475048,"date":"2024-07-03T12:23:06","date_gmt":"2024-07-03T16:23:06","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1475048"},"modified":"2024-07-03T12:23:06","modified_gmt":"2024-07-03T16:23:06","slug":"adp-payrolls-disappoint-in-june-3rd-straight-monthly-decline-in-additions","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/adp-payrolls-disappoint-in-june-3rd-straight-monthly-decline-in-additions\/1475048\/","title":{"rendered":"ADP Payrolls Disappoint In June – 3rd Straight Monthly Decline In Additions"},"content":{"rendered":"

ADP Payrolls Disappoint In June – 3rd Straight Monthly Decline In Additions<\/span><\/p>\n

\n

ADP reported 150k job additions in June (well below the 165k expected) – the third straight monthly decline in job additions and the weakest since January…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Even ADP’s top economist couldn’t spin it…<\/p>\n

“Job growth has been solid, but not broad-based. Had it not been for a rebound in hiring in leisure and hospitality, June would have been a downbeat month,”<\/strong><\/em> said Nela Richardson Chief Economist, ADP.<\/p>\n

Once again Services dominated job additions…<\/p>\n

<\/a><\/p>\n

Year-over-year pay gains for job-stayers were 4.9 percent in June, the slowest pace of growth since August 2021. Pay gains for job-changers also slowed, to 7.7 percent.<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Finally, we note that ADP has under-estimated the government’s official BLS payrolls print for 9 of the last 10 months…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

…or the official data has vastly over-estimated reality?<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 07\/03\/2024 – 08:23<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/adp-payrolls-disappoint-june-3rd-straight-monthly-decline-additions<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

ADP Payrolls Disappoint In June – 3rd Straight Monthly Decline In Additions ADP reported 150k job additions in June (well below the 165k expected) –…<\/p>\n","protected":false},"author":0,"featured_media":1475049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1475048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6bJ6","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/07\/bfmF045-MNQK7I.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1475048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1475048"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1475048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1475049"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1475048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1475048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1475048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}