Private sector job growth slowed last month and added just 67,000 jobs — a big miss from the 150,000 that economists expected, according to the closely-watched report by ADP and Moody’s Analytics.
“The job market is losing its shine ... job openings are declining and if job growth slows any further unemployment will increase,” Mark Zandi, Moody’s chief economist, said in a release.
Why it matters: It stokes fears about the health of the labor that’s shown some signs of slowing, but has mostly held up in the face of recession fears. The ADP report is considered a precursor to the government’s official jobs release, which comes on Friday.
