The U.S. labor market showed fresh signs of resilience on Thursday, as private hiring surged, layoffs slowed and filings for unemployment benefits stayed relatively low.
U.S. companies added almost half a million jobs last month, the most in over a year, according to data from ADP Research Institute in collaboration with Stanford Digital Economy Lab. A separate report from Challenger, Gray & Christmas Inc. showed announced job cuts by U.S. employers fell in June to an eight-month low.
While the ADP data often differ from the government’s employment report, which is due Friday, the figures are still consistent with a broader trend of a labor market that’s barely cooling.
