ADP private payrolls miss June forecast at 98,000, healthcare leads hiring

Private-sector employers added 98,000 jobs in June, falling short of the consensus forecast, according to data from ADP.

The healthcare sector drove the majority of the hiring activity, while other industries showed muted demand for new workers.

The report, released Wednesday, offers a preliminary look at labor market conditions before the government’s official nonfarm payrolls data arrives later in the week.

The miss against expectations reinforces the view that labor market momentum is slowing, a narrative that has gained traction among traders and analysts.

Prediction market participants on platforms like Kalshi have been positioning for a softer-than-expected official jobs report, directly challenging the more optimistic consensus views held by some Wall Street economists.

This divergence between market pricing and analyst forecasts highlights the uncertainty surrounding the current labor regime.