For the first time in over two years, employment at US companies took a sharp and unexpected dive in June, sending tremors across an already jittery economic landscape. ADP Research reported a decrease of 33,000 private-sector payrolls, a stark reversal from the revised 29,000 gain in May. Not a single economist polled by Bloomberg foresaw the contraction, raising fresh concerns that the broader labor market may be teetering on the edge of a more serious slowdown. The drop was driven largely by a contraction in the service sector, which has long been . . .
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