U.S. private sector payrolls miss forecasts in June, ADP says


Total private sector payrolls rose by 158,000 in June, undershooting forecasts for an increase of 185,000, according to consultancy ADP.

According to ADP, there was an increase in employment of 17,000 for small companies, 91,000 for mid-sized companies and 50,000 for large companies and there will be some concerns that hiring at small companies appears to have slowed.

USA weakness could be weakening. It has now revised to 230,000 (down from 253,000).

The ADP figures come ahead of the U.S. Labor Department's more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.

Employment in franchise increases to 18,400 compared to last month's 18,400.

Kingsley Joins Roster For NBA Summer League
The Minnesota Timberwolves start NBA Summer League play in Las Vegas this weekend, and they announced their roster on Wednesday. The Wolves open their summer league slate with a contest against the Toronto Raptors on July 8 at the Thomas & Mack Center.

On the other side of the ledger, education lost 6,000 jobs, natural resources and mining declined by 4,000 and construction fell by 2,000.

Services sector employment remains robust as payroll added 158,000 people in June.

Economists surveyed by MarketWatch expect the government will report a June jobs gain of 179,000.

The dollar index is now trading at 99.95, down 0.25% for the day so far.