Jobs
US Job Market Shows Fresh Strength With ADP and Layoff Data
- US companies added almost half a million jobs last month
- Job cuts by US employers fell in June to an eight-month low
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The US labor market showed fresh signs of resilience on Thursday, as private hiring surged, layoffs slowed and filings for unemployment benefits stayed relatively low.
US 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 US employers fell in June to an eight-month low.