Wed Jul 3, 2019
Author: RV News
The number of U.S. jobs increased by 102,000 from May to June, the national employment report released today by ADP and Moody’s Analytics shows.
“Job growth started to show signs of a slowdown,” ADP Research Institute Vice President Ahu Yildirmaz said. “While large businesses continue to do well, small businesses are struggling as they compete with the ongoing tight labor market. The goods producing sector continues to show weakness. Among services, leisure and hospitality’s weakness could be a reflection of consumer confidence.”
Moody’s Analytics Chief Economist Mark Zandi said the job market continues to throttle back.
“Job growth has slowed sharply in recent months, as businesses have turned more cautious in their hiring,” he said. “Small businesses are the most nervous, especially in the construction sector and at bricks-and-mortar retailers.”
The May jobs total added was revised up from 27,000 to 41,000.
To see the full report, click here.
The July employment report is scheduled to be released on July 31.