US Hiring Cools to Slowest Pace in Two Years, ADP Data Show

Hiring decelerated to the slowest pace in two years as sectors including business services, education and health shed jobs, pointing to a weakened demand for workers.

Private-sector payrolls increased by 37,000 last month, according to ADP Research, lower than all estimates in a Bloomberg survey of economists. That marked the second month in a row when the figures were well below expectations.