Fox Business Host Maria Bartiromo was left stunned Wednesday morning after reading aloud the latest job numbers for the month of June, which, originally anticipated to show 95,000 new jobs, actually revealed payrolls had declined by tens of thousands.
“We are waiting any moment now to get the job numbers for the month of (June), the expectations call for the numbers to be up 95,000 for the month,” Bartiromo said. “Right now, seeing the numbers actually show a decline, down 33,000.”
Coming from the Automatic Data Processing National Employment Report, which measures changes in private-sector employment using payroll data from around 25 million workers, the June job numbers represent the first monthly decline since March of 2023, and eliminates the entirety of the 29,000 new jobs reported in May.
Joanna DiNizio, spokesperson for ADP, attributed the unexpected loss of jobs to a "reluctance to replace departing workers" in a statement Wednesday.
Much of the hesitancy for employers to invest in things like job creation has been attributed to President Donald Trump’s unpredictable trade policy, having implemented, paused and vowed to restore tariffs on imports several times throughout the year. The Organization for Economic Co-Operation and Development forecasts GDP growth in the United States to slow to nearly half of its 2024 pace over the next two years due in large part to Trump’s tariffs in a June report.
