🚨 BREAKING: US private payrolls just MISSED hard
ADP added only 44K jobs in July — way below the 68K expected and a sharp drop from June's 95K.
That's two straight misses. June came in soft too (98K vs 118K expected).
Private hiring is cooling FAST.
💡 Why this matters for the Fed:
A weakening labor market usually means pause or cut. But three officials dissented last week pushing for a hike — worried about inflation over jobs.
This soft ADP number makes that hawkish stance way harder to defend heading into September.
Friday's official jobs report is the real test. If it confirms this weakness, the pause camp gets loud FAST.
📉 Macro narrative shift incoming. Watch liquidity.
ADP added only 44K jobs in July — way below the 68K expected and a sharp drop from June's 95K.
That's two straight misses. June came in soft too (98K vs 118K expected).
Private hiring is cooling FAST.
💡 Why this matters for the Fed:
A weakening labor market usually means pause or cut. But three officials dissented last week pushing for a hike — worried about inflation over jobs.
This soft ADP number makes that hawkish stance way harder to defend heading into September.
Friday's official jobs report is the real test. If it confirms this weakness, the pause camp gets loud FAST.
📉 Macro narrative shift incoming. Watch liquidity.