"} 4d:{"type":"p","text":"\r\n

Private employers added 98,000 new jobs in June, from 122,000 in the previous month, payroll processor ADP reported on July 1.

"} 4e:{"type":"p","text":"\r\n

This came in slightly below the consensus forecast of 113,000.

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Employment gains were broad-based, led by education and health services (48,000) and trade, transportation, and utilities (15,000). Jobs in financial services also jumped 14,000, while manufacturing picked up 5,000.

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Companies of all sizes also bolstered headcount, with small businesses—companies with fewer than 49 employees—adding 53,000 positions.

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“The pace of hiring is telling a story of both supply and demand. We know it’s taking people longer to find work, but there also are signs of labor supply constraints in certain industries,” Nela Richardson, chief economist at ADP, said in a statement.

"} 52:{"type":"p","text":"\r\n

Despite the slowdown in hiring momentum, job growth remains solid heading into the second half of the year.

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Additionally, employers are letting go of fewer workers.

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Planned job cuts totaled almost 46,000 last month, the lowest since December, according to global outplacement firm Challenger, Gray, and Christmas. This is down 53 percent from May and 4 percent lower than a year ago.

"} 55:{"type":"p","text":"\r\n

Layoff announcements were largely concentrated in technology, which accounted for about a third of June’s job cuts.

"} 56:{"type":"p","text":"\r\n

“The pace of layoffs cooled considerably in June, similar to plans last June, and as is typical for summer months,” Andy Challenger, the organization’s chief revenue officer, said in a news release.

"} 57:{"type":"p","text":"\r\n

“Tech remains the epicenter of this year’s cuts. AI is the dominant force as companies are restructuring around it, automating roles, an

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