Nearly half of the job gains came from education and health services, pointing to softer underlying labor demand than the headline figure suggests.
US private payrolls increased by 98,000 in June, below the 110,000 consensus estimate cited alongside the ADP report. Nearly half of the gains were concentrated in education and health services, a sign hiring was uneven across sectors. That concentration suggests broader labor demand is cooling faster than the headline number alone indicates, an important signal for investors tracking the strength of the job market and its implications for the economy.