Hiring at private U.S. employers slowed more than expected in June, according to a recent report, potentially raising concerns about a weakening economy.
Firms across the country added 158,000 workers to their ranks in June, according to payroll processor Automatic Data Processing Inc. and forecasting firm Moody's Analytics. Economists surveyed by The Wall Street Journal had expected an increase of 180,000.
The May total was revised to 230,000 from 253,000. The ADP report is based on private payroll data in addition to government data.
Mark Zandi, chief economist of Moody's Analytics, said in the report that job growth remains "a stalwart between 150,000 and 200,000." He added "At this pace, which is double the rate of labor force growth, the tight labor market will continue getting tighter."
Economists expect the U.S. Bureau of Labor Statistics to report Friday that nonfarm jobs rose by 173,000 in June from 138,000 the prior month.
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(END) Dow Jones Newswires
July 06, 2017 09:14 ET (13:14 GMT)