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US private sector hiring hits slowest rate since 2023: ADP

Wed Jun 4, 2025 06:47 PM
Last update on: Wed Jun 4, 2025 06:49 PM

AFP

Wed Jun 4, 2025 06:47 PM Last update on: Wed Jun 4, 2025 06:49 PM

FILE PHOTO: An employee hiring sign with a QR code is seen in a window of a business in Arlington, Virginia, U.S., April 7, 2023. REUTERS/Elizabeth Frantz :

US private sector hiring hit its lowest pace since early 2023 in May, according to data from payroll firm ADP on Wednesday, significantly missing expectations in a month where all eyes are on the effects of President Donald Trump's trade war.

Private sector employment rose by 37,000 jobs last month, slowing from the 60,000 figure in April and swiftly drawing a fiery response from Trump on social media who blasted the independent US central bank chief for not lowering interest rates sooner.