Jobs report shows US unemployment rate falls to 4.1%

The payroll firm ADP found that the private sector lost 33,000 jobs in June, far below the 100,000 increase that was expected, and the first decrease since March 2023. The dip in job openings does no necessarily mean companies are laying off more workers; rather, they are creating fewer new positions.

On Wednesday, ADP data showed private employers unexpectedly cut 33,000 jobs in June. This marked the first month of job losses in the private sector since March 2023. Meanwhile, continuing filings for unemployment benefits recently hit their highest level in nearly four years.