ADP Reports 33,000 Job Losses In June With Negative Revisions In May
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Small and medium-sized businesses shed jobs in June.
ADP Payroll Data by Employer Size, Chart by Mish
The ADP® National Employment Report for June provides a sobering set of statistics.
“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” said Dr. Nela Richardson, chief economist, ADP. “Still, the slowdown in hiring has yet to disrupt pay growth.”
Change by Employer Size
- 1-19: -29,000
- 20-49: -18,000
- 50-249: +12,000
- 250-499: -27,000
- 500+: 30,000
Change by Small, Medium, Large
- Small: -47,000
- Medium: -15,000
- Large: +30,000
ADP Total Employment by Employer Size
ADP Change in Employment by Employer Size Year-Over-Year
ADP Change in Small, Medium, Large Employment Year-Over-Year
Year-Over-Year Change by Small, Medium, Large
- Small: 174,000 – 14.5%
- Medium: 235,000 – 19.6%
- Large: 793,000 – 66.0%
Despite accounting for 43.6 percent of all jobs, small businesses only accounted for 14.5 percent of jobs gains in the last year.
Despite accounting for only 27.4 percent of all jobs, large businesses accounted for an outsized 66.6 percent of jobs gains in the last year.
No Driver for Job Growth
This economy is more than a bit screwed up. Tariffs and deportations rate to do more damage to small businesses.
There is no driver for job growth in the US. Expect to see negative numbers from the BLS this year.
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