Private payroll growth edged lower in June, according to a report Wednesday from ADP that indicates a potential slowdown in the U.S. labor market.
Companies added 150,000 jobs for the month, below the upwardly revised 157,000 in May and the Dow Jones consensus estimate for 160,000. The total was the lowest monthly gain since January.
Without the surge in leisure and hospitality hiring, the total would have been considerably lower. The sector added 63,000 jobs, easily the biggest gain among the categories that payrolls processing firm ADP measures.
Other sectors showing gains included construction (27,000), professional and business services (25,000), other services (16,000), and trade, transportation and utilities (15,000).
