---
title: Huge ADP miss… the trend is clear.
description: "*ADP PRIVATE PAYROLLS:\n-33K vs 98K exp.\nFirst negative print since March 2023.\n\nPrivate sector hiring unexpectedly contracted in June, payrolls processing firm ADP said Wednesday, in a possible sign that the economy may not be as sturdy as investors believe as they bid the S&P 500\n back up to record territory to end the month.\n\nPrivate payrolls lost 33,000 jobs in June, the ADP report showed, the first decrease since March 2023. Economists polled by Dow Jones forecast an increase of 100,000 for the month. The May job growth figure was revised even lower to just 29,000 jobs added from 37,000.\n\nTo be sure, the ADP report has a spotty track record on predicting the subsequent government jobs report, which investors tend to weigh more heavily. May’s soft ADP data ended up differing significantly from the monthly jobs report figures that came later in the week.\n\nSource: Zerohedge, Bloomberg, CNBC"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [Huge ADP miss… the trend is clear.](https://blog.syzgroup.com/syz-the-moment/huge-adp-miss-the-trend-is-clear-1)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Jul 3, 2025, 9:29:46 AM

[View full post](https://blog.syzgroup.com/syz-the-moment/huge-adp-miss-the-trend-is-clear-1)

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