U.S. private payrolls grew by just 150,000 in June 2024, below expectations

In June 2024, private companies created 150,000 jobs, falling short of the revised figure of 157,000 in May 2024 and the estimate of 160,000.

The leisure and hospitality sector led the way with 63,000 new jobs, marking the largest increase among the categories tracked by the payroll processing firm ADP.

U.S. age growth slowed to 4.9% year-on-year, the smallest rise since August 2021.

Markets generally shrugged off the lacklustre figures as Tech and AI driven indices continued their march to achieve ever higher positions.

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