US private sector employment declined by -33k (vs 99k expected) in June 2025, the first net job loss in over a year, driven by large declines in professional/business services and education/health, despite gains in manufacturing and leisure/hospitality.

• Goods-producing jobs rose by +32k, with manufacturing up +15k, construction +9k, and mining +8k.
• Service-providing sectors shed -66k jobs, including -56k in professional/business services and -52k in education/health; leisure/hospitality added +32k.
• Small firms (-47k) and medium firms (-15k) cut jobs, while large firms (+30k) added workers.
• Regionally, the South added +13k jobs while the Midwest (-24k), West (-20k), and Northeast (-3k) all posted declines.
• Job-stayer pay growth eased slightly to 4.4% YoY in June from 4.5% in May, while job-changer pay growth dipped to 6.8% YoY from 7.0%.