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Private sector lost 33k jobs, badly missing expectations of 100k increase

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We really need better ways of measuring economic health. I could lose my six-figure job, turn around, and get hired on as a server at Applebee's for minimum wage, and the "unemployment" rate would stay the same. Not to mention that it doesn't include those not actively looking for work.

Either way, "full employment" doesn't mean much unless you take into account whether people are actually able to live a stable lifestyle or are burning the candle at both ends just to put food on the table. One of these enables folks to buy nonessentials and fund all those sectors of the economy, the other doesn't.

7 months agoby psunavy03

The actual report: https://adp-ri-nrip-static.adp.com/artifacts/us_ner/20250702...

Goods-producing companies were net hirers (+32,000). Services lost 66,000 jobs, with losses concentrated in professional/business services (-56,000) and education/health services (-52,000).

Regionally, losses were concentrated in the West North Central Midwest (-28,000), South Atlantic (-21,000) and Mountain states (-20,000). (Map with old data [2].)

Firms with 1 to 50 employees and 250 to 499 employees laid people off while smaller mid-size and large companies were net hirers.

“Year-over-year pay growth for job-stayers was little changed for June at 4.4 percent compared to 4.5 percent in May. Pay growth for job-changers was 6.8 percent in June, down slightly from 7.0 percent last month.” (Pay growth was highest in finance, +5.2%, and lowest in information services, +4.1%.)

[2] https://pbs.twimg.com/media/FtCw0itWYAQSzri.png

7 months agoby JumpCrisscross

I used to have multiple recruiters reach out to me daily on LinkedIn regarding software engineering positions.

And this was for multiple years.

That hasn't been the case for the last 3 or 4 months.

None of this surprises me and it shouldn't for others.

7 months agoby issafram

I've applied casually to around 30 listings(I'm EU based) throughout last 2-3 months, all of which I was almost a perfect candidate for(9 years total exp). I received 2 automatic 'no's and 1 phone call + assignment for which I'm still waiting for a response. Everything else straight up ghosted me, not even confirmation emails of received resumes. Some of those companies even re-newed their listings afterwards. I feel like 80% of job listings are just straight up fake to keep VC's believing.

7 months agoby atraac

Important: "[payroll processing firm] ADP's report has a spotty track record on predicting the subsequent government jobs report"

7 months agoby hliyan

I'm about to lose my job too. The job market looks terrible.