ADP Reports 98,000 Private Jobs in June, Below Expectations as Friday BLS Report Looms
- The ADP National Employment Report showed private payrolls rose by 98,000 in June, missing consensus expectations of ~110,000–118,000 and down from a revised 122,000 in May.
- The soft print comes one day before the official BLS June Employment Situation release, which has been pushed to Thursday, July 2 at 8:30 a.m. ET because July 3 is a federal holiday for Independence Day.
- The data adds to the cautious tone as futures ease, with traders also watching Fed Chair Warsh's Sintra debut for clues on the rate path after his hawkish June FOMC. (WSJ, CNBC)