US Private Hiring Slows for a Fourth Straight Week, ADP Data Show

US private-sector hiring slowed for a fourth consecutive week, according to weekly figures from payroll processor ADP, adding to evidence that the labor market is gradually cooling. Employers added an average of roughly 16,500 jobs per week in the four weeks through July 4, down from about 24,250 three weeks earlier, signalling a steady loss of momentum in employment. The softer readings come as investors weigh how a slowing jobs picture might influence the Federal Reserve, which holds its next policy meeting on July 28-29. The central bank left its benchmark rate unchanged in a range of 3.50% to 3.75% in June while projecting a more hawkish path, and futures markets have been pricing rates drifting higher toward year-end rather than lower. A weakening labor market complicates that stance, since cooling employment can ease wage and price pressures but also raises questions about the durability of consumer spending. Economists note that weekly data can be volatile, but the consistent direction over the past month has drawn attention as a potential early sign of a broader slowdown in hiring.