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🔰 SUMMARY OF US JUNE ADP JOBS REPORT:

🔰 1. The U.S. economy lost 33,000🔻 jobs in June, as per ADP, badly missing forecasts for a gain of 99,000.(That was the lowest monthly total since February 2022.)

🔰 2. That follows a downward revision for May, which added just 29,000 jobs, compared to a previously reported increase of 37,000.

🗝 Key Takeaway: This is the worst ADP payrolls report we’ve had in quite some time.

🔰 The data points to a slowing labor market and raises the chances of multiple rate cuts by the Fed this year.

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