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The private sector has only created 27,000 jobs in May – the lowest number in 9 years – well below the 173,000 expected economists, Wednesday announced ADP and Moody's Analytics.
Why it's important: The data is usually a good barometer of what needs to be in the government's official jobs report. This is because the stellar job market could finally slow down. In a press release, Mark Zandi, chief economist of Moody's, said: "Employment growth is moderating.Labour shortages hamper job growth, particularly in small businesses, and layoffs at traditional retailers are suffering. "
Go further … Chart: Number of jobs created each month by the US economy
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