US Job Losses Rise Despite Steady Pay Growth
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The ADP National Employment Report revealed a loss of 33,000 private sector jobs in June 2025, despite a 4.4% year-over-year pay increase. Job losses were prominent in professional and business services, and education and health services, while leisure and hospitality saw gains. Dr. Nela Richardson, ADP's chief economist, attributes the job losses to hiring hesitancy and reluctance to replace departing workers, but notes that pay growth remains strong.
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