(RTTNews) - Private sector employment in the U.S. increased by less than expected in the month of June, according to a report released by payroll processor ADP on Wednesday,
The report said private sector employment climbed by 98,000 jobs in June after jumping by 122,000 jobs in May. Economists had expected private sector employment to grow by 117,000 jobs.
ADP said the financial activities and information sectors were among the gainers, while the leisure and hospitality sectors delivered a sixth month of weak hiring.
"The pace of hiring is telling a story of both supply and demand," said ADP Chief Economist Dr. Nela Richardson. "We know it's taking people longer to find work, but there also are signs of labor supply constraints in certain industries. For now, the overall effect is a slowdown in job creation."
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