Private sector employment cooled unexpectedly in June, payroll firm ADP said Wednesday, with job creation slowing for a third month. But she added that without a hiring rebound in leisure and hospitality, "June would have been a downbeat month."

US private hiring eases unexpectedly in June: ADP

UPI News

U.S. private job growth for June fell short of expectations, according to private payroll processor ADP's monthly report released Wednesday.

ADP: Private payrolls grew 150,000 in June, lower than expectations

Fox Business

Hiring by private U.S. companies rose less than forecasted in June, a sign that the labor market is starting to slow in the face of higher interest rates.

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

This Friday’s nonfarm payrolls report is expected to be a “goldilocks” report, with 200,000 jobs created and a steady 4% unemployment rate. But even a minor deviation from the consensus could be noteworthy. This year, headline payroll gains have been solid, with an average monthly increase of 255,000 jobs.

Unemployment Rate in Focus Ahead of Key Jobs Report

As the jobs market appears to be cooling, there are three roles that are still red hot. In April, there were 8.06 million available jobs posted in the U.S. — the lowest level since February 2021, according to the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) report. In all, the U.S. added a higher-than-anticipated 272,000 jobs in May.

The 3 hottest jobs right now

Reuters

WASHINGTON (Reuters) -First-time applications for U.S. unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradual cooling in the labor market.

US weekly jobless claims rise as labor market gradually slows

California State

Los Angeles Times

Fast-food lobbyists say the higher California minimum wage law led to a loss of nearly 10,000 jobs. The claim is baseless.

The fast-food industry claims the California minimum wage law is costing jobs. Its numbers are fake

PYMNTS

As aggregators compete to win the spending of financially struggling consumers, more players in the space are expanding their acceptance of Supplemental Nutrition Assistance Program (SNAP) Electronic Benefits Transfer (EBT) payments. Target-owned same-day delivery aggregator Shipt, for instance, recently said it has begun accepting these benefits on its marketplace, reaching...

Aggregators Expand SNAP EBT Acceptance to Woo Paycheck-to-Paycheck Shoppers

WASHINGTON (Reuters) - New orders for U.S.-manufactured goods unexpectedly fell in May, while business spending on equipment appeared weaker than initially thought, government data showed on Wednesday.

US factory orders unexpectedly fall in May

The Center Square

(The Center Square) – The number of insured unemployed individuals increased by 26,000 to 1,858,000, in the week ending June 29, the highest level since November 2021.
                Seasonally adjusted initial unemployment claims reached 238,000, marking an increase of 4,000 from the previous week's revised figure of 234,000.
                These numbers were higher than expected, according to the Department of Labor, and are signs of a slowing job market.
   ...

Unemployment insurance claims continue to rise

New York Post

First-time applications for unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradual cooling in the labor market.

Ebbing labor market momentum, together with abating inflation pressures, keep the Federal Reserve on track to start cutting interest rates this year, with financial markets hopeful that the easing cycle could start in September.

Fed Chair Jerome Powell said on Tuesday that the economy was back on a “disinflationary path,” but stressed policymakers needed more data before cutting rates.



“The labor market is still historically strong, but not...

Labor market continues to cool as applications for unemployment benefits rise

PBS NewsHour

WASHINGTON (AP) — The number of Americans filing for unemployment benefits inched up last week and remain historically low, however the total number of people collecting jobless benefits continues to grow. The Labor Department reported Wednesday that jobless claims for the week ending June 29 rose by 4,000 to...

U.S. continuing jobless claims rise for 9th straight week, though unemployment stays historically low

As Walmart and Amazon leverage their paid membership programs to drive loyalty, the former is seeing millennials prove to be the most eager to subscribe. “Walmart+ Week 2024,” a new PYMNTS Intelligence report, digs into consumer trends regarding subscriptions and purchases during Walmart+ Week, drawing on a survey of more that 7,700 respondents in late June.

Nearly Half of Millennials Are Walmart Subscribers

As grocery shoppers settle into the warmer months, many are shifting away from eCommerce back to brick-and-mortar stores with more time to make their food purchases. Melissa Myres, director of insights at grocery giant The Kroger Co.’s retail data science, insights and media subsidiary 84.51°, told PYMNTS in an interview that many grocery shoppers spend more time in physical stores during the warmer months.

Shop Talk: Consumers Return to Brick-and-Mortar Grocery for Summer

The Independent

The UK’s manufacturing sector grew for the second consecutive month despite rebounding cost inflation and “weak” exports, according to new data.Activity in the sector grew last month on the back of growing new orders, but there was a slight slowdown against the previous month.The closely watched S&P Global/CIPS UK manufacturing PMI survey hit a reading of 50.9 for June, dipping from a 22-month high of 51.2 in May.Any reading above 50 means a sector is in growth, while a score below this means it is contracting.The performance of the domestic market remains a real positive, providing a ripe source of...

Manufacturing sector grows again but inflation hits 17-month high

(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits fell by more than expected in the week ended June 22nd. The Labor Department said initial jobless claims dropped to 233,000, a decrease of 6,000 from the previous week's revised level of...

U.S. Jobless Claims Dip More Than Expected To 233,000

The Associated Press

US filings for jobless claims inch up modestly, but continuing claims rise for ninth straight week

Shoprite is launching an eCommerce service for its Cash and Carry stores to streamline wholesale purchases. The South African wholesale brand is making its venture into eCommerce through the service, which allows customers who buy in bulk to “browse and purchase a wide range of goods at highly competitive prices through a fully automated online shopping system, with free delivery within a 50km radius,” according to a Wednesday (July 3) news release.

Shoprite Launches eCommerce Service for Wholesale Buyers

WASHINGTON — The construction industry had 339,000 job openings on the last day of May, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings increased by 2,000 last month but are down by 38,000 from the same time last year.

ABC: Construction Job Openings Down from May 2023

While more people are embracing the idea of buying and selling secondhand clothing, companies specializing in selling these items are reportedly facing challenges in turning a profit. The U.S. secondhand apparel market was valued at approximately $43 billion in 2023, The Wall Street Journal (WSJ) reported Wednesday (July 3), citing...

Resale Firms Struggle to Profit in Growing Secondhand Apparel Market

NewsBreak

ADP: Job Growth Cools for Third Consecutive Month

Job growth in the private sector cooled in June, marking the third consecutive month of a slowdown. Private employers added 150,000 jobs during the month, ADP...

ADP: Job Growth Cools for Third Consecutive Month

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