Companies in the private sector lost 33,000 jobs in June, payroll processing firm ADP said Wednesday.

The figure is well below economists’ estimates of a gain of 95,000 jobs and down from the prior month’s revised reading of 29,000.

"Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month," said Nela Richardson, ADP's chief economist. "Still, the slowdown in hiring has yet to disrupt pay growth."

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