#adp report

Washington, D.C. – June 6, 2025: The US economy added 139,000 jobs in May, reflecting a continued cooling in the labor market as employers exercise caution amid rising tariff tensions and fading consumer demand. According to data released Friday by the US Labor Department, the May figure, although slightly above forecasts of 133,000, was lower than April’s revised 147,000 gain. Additionally, job…

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NEW YORK | ADP report says small business hiring drops in August

NEW YORK — Small business hiring fell by more than half in August, the likely result of a shrinking labor pool.

Payroll processor ADP said Thursday that its small business customers added 21,000 new jobs last month, down from 59,000 in July. That’s also less than half the monthly average of nearly 49,000 during the first seven months of this year. ADP bases its reports on payroll data from its customers with one to 49 employees.

Small business hiring has slowed from 2017, when monthly job gains averaged 61,000. The falling unemployment rate has made it harder for many companies to find qualified workers to fill their open positions.

The slower gains at small companies depressed hiring at ADP customers of all sizes. The company counted 163,000 new jobs overall, down from 217,000 in July, with hiring most strong at companies with 50 to 499 employees.

Periodic surveys of small businesses by banks and industry groups show demand for workers has increased, but many companies also say they’re not planning to hire. Among the reasons they cite: They have enough employees to get their work done now, and they don’t want to hire unless they already have revenue growth that justifies the added costs and risks of taking on more staffers.

More insight about hiring will come Friday, when the Labor Department issues its report on August employment. However, the government does not break down job gains by company size.

I hope everyone had a happy and safe July 4th. Now for those of us who are working and feel like we were not invited to the big party, there are a few things going on in the financial markets over the next few days. To start we are opening up unchanged for the most part with the 10yr @ 1.62%. This is on the heels of what has been a good start to the week that was fueled by a weak ISM index which indicates slow economic growth. Now we restart the week with the ADP report which is and is not a precursor to the NFP report. It is because it gives economists an indication on whether their forecast is accurate and gives them a chance to revise but it also creates a degree of expectation in the markets for the subsequent NFP report.