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ADP: Private sector loses 33,000 jobs in June against predictions of 100,000 increase [1]
['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']
Date: 2025-07-02
Nela Richardson, ADP’s chief economist, said in a Wednesday morning press release:
“Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,”
This hesitancy illustrates why stock market and job market numbers are not closely related. Stocks are liquid. I can unload immediately what I just bought. So ‘professional investors’ (which is often a polite term for ‘gamblers’) can shift strategies on the fly. While companies neither want to shed nor hire workers, capriciously. Expertise is hard to replace — which is why, even if the DOGE cuts are reversed, the quality of government services will take time to rebound. The training expense for new employees is high, and the learning curve can be steep.
The cynic could say investing is often like a series of brief flings — while employment is a marriage.
As bad as the numbers are, they could have been a lot worse. The job market has so far dodged a severe injury because while TACO keeps threatening tariffs, he keeps chickening out. The guy is at his least harmful when he doesn’t do what he threatened to do. Additionally, companies have short-term strategies in place to mitigate adverse conditions. But I suspect their bags of tricks are getting light.
No matter how you spin it, the economy is not roaring. American businesses are generally run by competent, sober-minded people who know what they are doing. But we don’t know that because it is the loud-mouth egotists who think the world exists for their enrichment that get all the press. We hear about the significant failures, the catastrophic frauds. However, many top-notch executives are doing what needs to be done.
They’ll never make a TV show about them.
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