NEW YORK (AP) — Small business hiring slowed significantly in June, with companies adding just 17,000 jobs. That report comes from payroll provider ADP, which counted the number of jobs at its small business customers.
ADP also revised lower its count of new jobs for April and May combined; it now says 95,000 were added, down from the 151,000 originally reported. The drop in small business hiring reflects a trend toward slower job growth at companies regardless of size.
Economists believe overall hiring may be weakening because the number of available workers has declined as more people have gotten jobs; the unemployment rate stood at 4.3 percent in May.
The ADP’s report on June employment at businesses of all sizes also showed modest growth, with 158,000 jobs added.
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