(AURN News) — A new jobs report shows that the K-shaped economy, an economy where those at the top continue to see growth while working- and middle-class Americans see retraction, continues to affect everyday life.
In its June report, ADP said private employers added just 98,000 jobs last month, another sign that hiring continues to slow.
Education and health services posted the strongest gains, while leisure and hospitality recorded a sixth consecutive month of weak hiring.
“We know it’s taking people longer to find work, but there also are signs of labor supply constraints in certain industries,” said Dr. Nela Richardson, chief economist for ADP.
“For now, the overall effect is a slowdown in job creation,” she added.
Small businesses continued to drive hiring. Companies with 1 to 19 employees added 38,000 jobs, while those with 20 to 49 employees added another 15,000.
Regionally, the South Atlantic continued to lead the nation in private employment growth, while New England remained at the bottom. Education and health services remained the strongest hiring industry in June.
Click play to listen to the AURN News report from Jamie Jackson:
